According to Bloomberg, Hillhouse Capital-backed luxury villa operator NOTA is planning an initial public offering (IPO) in Tokyo, aiming to raise approximately 24 billion yen ($152 million). According to a regulatory filing submitted on Friday, the company plans to issue about 5.1 million new shares, while existing shareholders intend to offer an additional 12.2 million shares. Based on an initial indicative price of 1,390 yen per share, the target valuation stands at 111 billion yen. If completed as planned, it would mark Japan's third-largest listing of the year.