TBM, a Japanese maker of carbon-capture technology and recycled materials, has started preparatory work for an initial public offering on the Tokyo Stock Exchange¡¯s Growth Market to list in the ¡°not-so-distant future,¡± a company executive said.
An offering as early as 2027 is ¡°not off the table,¡± Chief Financial Officer Seigo Nakashima said in an interview this month. The company has already selected a lead underwriter and auditor and is currently gauging investor interest, he said, adding that any IPO would definitely not be next year.
The Tokyo-based startup is targeting a higher market capitalization than its current valuation of ?136 billion ($868 million), Nakashima said. The company has a ¡°clear path to achieving annual operating profitability¡± and is entering a phase of revenue growth, he said.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.