United, Mitsui, Itochu and GMO-backed e-commerce platform Mercari has priced its initial public offering at the top of its range and will raise up to $1.19bn in Tokyo this month.
Mercari, a Japan-based online marketplace operator backed by corporates GMO, Itochu, Mitsui and United, has priced its shares at ¥3,000 ($27.30) and will raise up to $1.19bn, Reuters reported today.
The company will list on the Tokyo Stock Exchange on June 19, achieving a valuation of $3.7bn. selling. It had targeted a pricing range of $20 to $24.60 for a valuation of $3.3bn last month, up from an initial target of $1.8bn in January.
Mercari is issuing approximately…
