SmartNews, a news aggregation firm headquartered in Tokyo, is reportedly preparing for an initial public offering on the Tokyo stock exchange this coming December. The company is aiming for a market capitalization of approximately ¥50 billion, which is equivalent to about $317 million. This target represents a substantial drop compared to previous valuation levels. The move to go public comes as the startup navigates a challenging financial landscape that has seen its estimated worth decrease significantly before its market debut.
Source : The Japan Times
Photo : The Japan Times
