See the original story in Japanese.
Tokyo-based ‘For Startups‘, the company offering an executive and talent search service for Japanese startups in addition to the Startup DB database platform, announced today that IPO application to the Tokyo Stock Exchange (TSE) has been approved.
The company will be listed on the TSE Mothers Market on March 13 with plans to offer 200,000 shares for public subscription and to sell 120,000 shares in over-allotment options for a total of about 600,000 shares. The underwriting will be led by Nomura Securities while the company’s ticker code will be 7089.
Based on the estimated IPO price of 1,520 yen (about $13.8) a share, the company’s market valuation will be about 4.7 billion yen (about $42.8 million).
Its share price range will be released on February 21 with bookbuilding scheduled to start on February 26 and pricing on March 3. According to the consolidated statement as of March 2019, they posted revenue of 1.045 billion yen (about $9.5 million) with an ordinary profit of 274 million yen (about $2.5 million).
In order to strengthen an executive and talent search service focused on startups, the company was spun off from Saint Media (now known as Willof Work) and launched back in September of 2016 under their previous name of Net Jinzaibank. Their main shareholders include Willgroup (92%, TSE:6089, Willof Work’s parent company) and For Startups’ CEO Yuichiro Shimizu (8%).
Translated by Masaru Ikeda