Moi Corporation, the Japan-based livestreaming platform developer that counts telecommunications firm KDDI and conglomerate Sinar Mas among its investors, secured approval today to list on the Tokyo Stock Exchange (TSE).
The flotation is set to take place on TSE’s Growth Market on April 27, and the company will issue approximately 1 million shares, with just over 354,000 additional shares reserved for the overallotment option.
The price range will be determined on April 8, four days before the one-week bookbuilding period, with the final offering price scheduled to be set on April 19. The company’s market capitalisation after the offering will be roughly ¥6.2bn ($50.9m).
Founded in 2010, Moi operates a social networking platform called TwitCasting, which enables more than 10 million users across 35 countries to share content in real time through high-resolution videos on the web and iOS and Android mobile devices.
Moi had last disclosed funding in 2019 through a $5.8m round that included KDDI’s Open Innovation Fund and financial services firm SBI’s AI & Blockchain Fund in addition to venture capital firm Global Brain. The round took its funding to about $12m altogether.
Sinar Mas had participated in a $5m round for the company in 2014, investing alongside East Ventures, the VC firm that had supplied $640,000 in seed capital the previous year.
SBI Securities, Kyokuto Securities, IwaiCosmo Securities, Aizawa Securities, Toyo Securities, HS Securities, Musashi Securities, Mito Securities and Matsui Securities are principal underwriters for the offering.
Image courtesy of Moi Corporation.
