Internet Initiative Japan's Pull and Push in Public Markets

Say one thing for Internet Initiative Japan(IIJI Quote): It really means it with that word "initiative."

After pulling a long-desired stock offering from the Tokyo Stock Exchange only a few days after it priced, the company is vowing to get listed in Japan. CEO Koichi Suzuki said in an interview with Reuters last Friday that IIJ is undeterred in its goal of having the stock trade in its native country. A Nasdaq listing, it seems, isn't enough.

Actually, the Nasdaq listing could be seen as a liability. In a reaction that must have been greeted with mixed feelings by Suzuki & Co., IIJ's Nasdaq shares rallied madly on the news, rising 23% in a single day Monday. The stock further climbed as high as $8.7 Tuesday before closing unchanged. ...