Japan’s brand enablement platform AnyMind Group files for IPO

Image credit: AnyMind Group

Tokyo-headquartered AnyMind Group, running its business mainly in Japan and other Asian countries, announced on Tuessday that its IPO application to list on the Tokyo Stock Exchange had been approved. The company will be listed on the TSE Growth Market on December 15 with plans to offer 885,300 shares for public subscription and to sell 403,400 shares in over-allotment options for a total of 1,804,200 shares. The underwriting will be led by Mizuho Securities and Mitsubishi UFJ Morgan Stanley Securities while AnyMind’s ticker code will be 5027.

Based on the company’s estimated issue price is 970 yen (about $7) per share, its market cap is approximately 55.3 billion yen (about $400 million). Its share price range will be released on November 29 with bookbuilding scheduled to start on November 30 and pricing on December 6. The final public offering price will be determined on December 7. According to its consolidated statement as of December of 2021, the company posted revenue of 19.3 billion yen ($138 million) with an ordinary loss of 53.1 million yen ($381,000).

AnyMind was founded in Singapore in 2016 by Kosuke Ufuka (CEO) and Yukihiko Komutsumi (Chief Commercial Officer) under its original name of AdAsia Holdings. The company provides brands with a one-stop platform supporting production management, e-commerce, marketing, and logistics management, and currently has 19 offices in 13 countries and regions, mainly in Asia.

The company’s IPO application to the Mothers market was approved by the Tokyo Stock Exchange in February, but the listing was later postponed due to cooling investor sentiment in the wake of Russia’s invasion to Ukraine.

Led by co-founder and CEO Kosuke Sogo (37.21%), the company’s major shareholders include co-founder and CCO Otohiko Kozutsumi (9.54%), SMBC Trust Bank (6.77%), JATF VI (6.63%), JAFCO Asia (4.81%), JIC Venture Growth (3.92%), JP Investment (2.86%), Japan Growth Capital Investment (managed by Nomura Sparx Investment, 2.42%).

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