The digital gifting platform, which counts KDDI as its largest investor, expects to raise approximately $51.7m when it floats in Tokyo.
Japan-based social gifting platform Giftee has been approved for an initial public offering on the Tokyo Stock Exchange (TSE) that will enable telecommunications firm KDDI to exit, The Bridge has reported.
The offering will consist of 4.4 million shares, 800,000 issued by the company and some 3.6 million sold by shareholders, at an estimated price of ¥1,250 each, raising a total of $51.7m. About 660,000 more shares have been reserved for the over-allotment option.
Founded in 2010, Giftee operates a…
