Friday, June 7, 2019

Business Card App Operator Sansan Prices IPO at Top of Range, Raises $360 Million

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Business Card App Operator Sansan Prices IPO at Top of Range, Raises $360 Million
Japanese business card the executives organization Sansan Inc estimated its first sale of stock (Initial public offering) at the highest point of a characteristic range on Friday, an administrative recording appeared, raising JPY 38.9 billion ($360 million).

Sansan said in the recording the Initial public offering had been evaluated at JPY 4,500 for each offer, at the highest point of a book-building scope of JPY 4,000-4,500. The sum raised incorporates the over-distribution.

The firm, which enables clients to sweep and arrange Japan's omnipresent business cards, will list on the Tokyo Stock Trade's Moms showcase on June 19.

In December, Sansan said it brought JPY 3 billion up in its most recent financing round from speculators including Japan Post Capital and T. Rowe Value, taking the aggregate sum raised to more than $100 million.

Japan's tech scene stays overwhelmed by set up players, with man-made brainpower startup Favored Systems the nation's just unicorn as of January, as indicated by CB Bits of knowledge.

In April, crypto startup Fluid Gathering said its valuation passed $1 billion at its latest raising money without revealing the sum raised.
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