Tokyo-based Schoo, the Japanese startup offering online video-based learning services for individuals and businesses, announced on Thursday that its initial listing application on the Tokyo Stock Exchange had been approved.
The company will be listed between October 22 and October 28 on the TSE Growth Marke with plans to offer 1 million shares for public subscription and to sell 813,500 shares in over-allotment options for a total of 4,423,600 shares The underwriting will be led by Nomura Securities while Schoo’s ticker code will be 264A.
The share price range will be determined between October 2 and October 8 while the book-building period will run from October 3 at the earliest to October 16 at the latest. The final public offering price will be set between October 10 and October 17.
The total number of outstanding shares is 11,609,200. Based on the estimated issue price of 580 yen (approximately $4.07 US) per share, its market cap will be approximately 6.73 billion yen ($47.2 million US). According to its financial statement, the company posted revenue of 2.008 billion yen ($14.1 million US) and an ordinary loss of 672 million yen ($4.71 million US) for the fiscal year ending September 2023.
Since its launch back in 2011, Schoo has been offering the Schoo WEB-campus online learning service in the field of recurrent education. Its corporate service, Schoo for Business, offers training programs aimed at improving digital literacy and business skills, with over 4,000 companies having used the service to date.
Major shareholders include founder and CEO Kenshiro Mori (24.65%), Incubate Fund (16.61% through two funds), KDDI Regional Co-creation Fund (managed by KDDI and Global Brain, 9.37%), Bonds Investment Group (7.62%), Anri (5.88%), Aozora Corporate Investment (4.03%), and co-founder and Vice President Takayuki Nakanishi (2.52%).
See also:
- Japanese e-learning startup Schoo raises $2.9 million
- School in your pocket: Japanese startup launches iPhone app for live lecture participation
- Schoo: Japanese e-learning startup strives for excellence in content (Part 2 of 2)
- Japanese startup wants to set the standard for online learning
- Japanese MOOC startup raises $1.5 million from investors