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Mercari chases growth overseas with $1.2 billion IPO, Japan's biggest this year

Reuters  |  TOKYO 

By Taiga UranakaTOKYO (Reuters) - Japanese flea market app operator Mercari Inc's IPO is raising up to $1.2 billion in the nation's biggest such share sale so far this year, as the firm seeks to replicate its domestic success overseas, especially in the money-losing U.S. market.Mercari said in a regulatory filing on Monday its initial public offering was priced at 3,000 yen ($27.29) per share, at the top of an indicative range of 2,700-3,000 yen, valuing Japan's first and one of only two unicorns at $3.7 billion.The firm, which offers a popular smartphone app that allows people to trade used ...

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First Published: Mon, June 11 2018. 16:10 IST