Tokyo-based Raksul, an online printing and delivery startup, announced today that its IPO application to the Tokyo Stock Exchange (TSE) has been approved. The company will be listed on the TSE Mothers Market on 31 May with plans to offer 2,500,000 shares for public subscription and to sell up to 1,642,100 shares in over-allotment options, for a total of 8,449,900 shares. Daiwa Securities will lead the underwriting.
Led by the company’s CEO Yasukane Matsumoto (21.55%), its major shareholders include OPT Holding (17.78%, TSE:2389) and Development Bank of Japan (8.91%).
According to the consolidated statement as of July of 2017, they posted a revenue of 7.68 billion yen (about 70.2 million) with an ordinary loss of 1.16 billion ($10.6 million) and a net loss of 1.18 million yen ($10.8 million).
Founded in 2009, Raksul is a Japanese company which provides printing services in partnership with printing facilities across its home country as a fabless operator. Users can place printing orders at affordable rates because the company takes advantage of downtime at participating printers to complete those orders. Additionally, the company provides the Hacobell on-demand delivery service as well as a flyer delivery service for small and medium-sized enterprises.
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Edited by “Tex” Pomeroy