May 15 (NHK) - The Tokyo Stock Exchange has approved e-commerce company Mercari's request to make an initial public offering.
TSE officials say Mercari will list its shares on the Mothers market for start-up firms on June 19th.
The company operates a popular smartphone application for buying and selling used items.
The company's market capitalization upon listing is expected to be about 2.7 billion dollars. That's the largest IPO so far this year.
Mercari has grown rapidly since its launch 5 years ago. It has gained a reputation as a rare Japanese non-listed start-up with a valuation of over 1 billion dollars.
Mercari plans to use the funds from the IPO to expand its business.
Source: ANNnewsCH
