Japanese news aggregation app operator SmartNews has hired Mitsubishi UFJ Morgan Stanley Securities and Nomura Holdings as lead managers for its initial public offering, according to a person familiar with the matter.
SmartNews, valued at $2 billion in 2021, may list in Tokyo as early as next year, the person said, asking not to be identified because the information isn’t public.
The Japanese firm has met global investors in cities including Hong Kong, Singapore, New York and London to gauge investors’ interest, according to people with knowledge of the matter.
SmartNews said in an emailed response that no decision has been made. Nomura’s representative declined to comment, while Mitsubishi UFJ was not immediately available.
The potential listing of SmartNews will add to the momentum of sizable global deals in Japan. JX Advanced Metals in March raised ¥439 billion ($3 billion) in the nation’s biggest listing since SoftBank Corp., while lender SBI Shinsei Bank has applied to get relisted. The nation’s IPO market has raised ¥551 billion so far this year, more than double the same period last year, according to data compiled by Bloomberg.
Founded in 2012, SmartNews uses algorithms to sift through global content and provides access to news from more than 3,000 media sources. The company also has a user base in the U.S.
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