Morpho, a Japan-based developer of image-processing technology, has seen its share price more than double in its Tokyo stock exchange flotation. The company’s opening price was Y4,840 per share compared to an expected initial public offering value of Y2,250. Morpho has 1.4 million shares after its IPO. Founded in 2004, Morpho’s shareholders include multiple corporate venturing unit. Nokia Growth Partners owned 7.05% pre-IPO, Japan-based phone operator NTT Docomo owned 8.91%, electronics companies NEC 2.71% and Panasonic 1.75% and the University of Tokyo Edge Capital (UTEC) 21.27%. Nokia Growth Partners Fund II had invested Y165m ($1.5m) in Morpho as its first Japanese deal in February 2008.

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