Alpen is now set to go public on the Tokyo stock exchange on March 24, offering 13 million shares at 4,000 yen (€28.29-$33.63) each. The price represents 21.5 times projected earnings per share of 186.25 yen for the financial year ending next June 30. The big Japanese sporting goods retailer will raise proceeds of 52 billion yen (€368m-$437m) through the IPO.