Mercari, a Japan-based online marketplace operator backed by corporates GMO, Itochu, Mitsui and United, has received approval for a $1.1bn initial public offering on the Tokyo Stock Exchange, Reuters reported today.
The company will price its shares at ¥2,200 to ¥2,700 ($20 to $24.60) to achieve a market value of $3.3bn when it lists on June 19. News of the flotation emerged in January 2018, when Mercari was said to be targeting a valuation of more than $1.8bn.
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