TSE approves Mercari's IPO
NHK -- May 15
The Tokyo Stock Exchange has approved e-commerce company Mercari's request to make an initial public offering.

TSE officials say Mercari will list its shares on the Mothers market for start-up firms on June 19th.

The company operates a popular smartphone application for buying and selling used items.

The company's market capitalization upon listing is expected to be about 2.7 billion dollars. That's the largest IPO so far this year.

Mercari has grown rapidly since its launch 5 years ago. It has gained a reputation as a rare Japanese non-listed start-up with a valuation of over 1 billion dollars.

Mercari plans to use the funds from the IPO to expand its business.

東京証券取引所は、スマートフォン向けに中古品のフリマアプリなどを展開するメルカリのマザーズ上場を承認しました。 東京証券取引所によりますと、メルカリのマザーズ上場は来月19日を予定しているということです。
News sources: NHK, ANNnewsCH
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