Metaps, the Japanese company offering a variety of IT services ranging from app monetization platform for mobile developers to commission-free payments solutions, had earlier submitted an IPO application to the Tokyo Stock Exchange, which was approved today.
The company will be listed on the TSE Mothers Market on 28 August with plans to offer 1,152,000 shares for public subscription and to sell 273,000 shares in over-allotment options for a total of 1,578,000 shares. The underwriting will be led by SMBC Nikko Securities.
Its share price range will be released on 12 August, with bookbuilding scheduled to start on 20 August. According to the consolidated statement as of August 2014, they posted a revenue of 2.27 billion yen ($18.3 million) and an ordinary loss of 510 million yen ($4.1 million).
Major shareholders include the company’s founder Katsuaki Sato (39.4%), the company’s own fund Japan Ventures I L.P. (18.2%) and Intec IT Capital (5.7%), among others.
Metaps was founded under the former name of E-factor in September 2007 by Waseda University student Sato. He subsequently dropped out to focus on the Tokyo-based company, which in 2011 launched app monetization platform Metaps. His company soon after adopted this platform brand as the official corporate name. This was soon followed by securing series A round funding of 440 million yen including 330 million yen from Ngi Group (now known as United); in March 2013 series B round funding of about 1 billion yen from Fidelity Growth Partners Japan and other investors was realized.
Coinciding with its series C round funding of 4.3 billion yen this February Metaps announced that Heizo Takenaka, a former Japanese minister of state, joined the company’s advisory board.
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Translated by Masaru Ikeda
Edited by “Tex” Pomeroy