Tokyo Stock Exchange (TSE) has approved Ryukyu Asteeda Sports Club, a Japan-based professional table tennis club backed by brand developer MTG, for a direct listing.
The listing will take place on TSE’s Pro Market, a financial instruments exchange market only available to professional investors, on March 30.
Founded in 2018, Ryukyu Asteeda Sports Club runs Ryukyu Asteeda, a ping-pong team based in the Japanese prefecture of Okinawa located on the Ryukyu Islands, which forms part of a professional table tennis league dubbed T League.
MTG’s corporate venturing unit, MTG Ventures, had backed a round of undisclosed size for the club in November 2020 through a strategic partnership.
Asteeda secured $210,000 in a December 2019 campaign on Fundinno, a crowdfunding platform operated by Japan Cloud Capital. It came five months after the company raised an undisclosed sum from MTG Ventures as well as unnamed technology companies, venture capital firms and angel investors.
