It’s time for another tech IPO in Japan. Voltage, a Tokyo-based mobile contents provider, has received approval to list on the Tokyo Stock Exchange’s Mothers market on June 11 (code: 3639). The company plans to issue 200,000 new shares to the public, next to 220,000 shares coming from its existing shareholders. If demand is bigger than expected, another 63,000 (existing) shares will be issued under an overallotment arrangement.
It’s probably not going to be a huge IPO though. For the current fiscal year (that ends in June 2010), Voltage expects sales to hit $47.6 million, with a net profit of $3.2 million. However, the company was ranked 31st in Deloitte Touche Tohmatsu‘s list of the 50 fastest-growing tech firms in Japan released last October. According to Deloitte, Voltage’s sales increased by a whopping 109% over a three-year period.
Founded back in 1999, Voltage in Japan is best known for producing mobile content geared specifically towards young girls, for example games, fortune-telling software, or mobile comics. The company generates revenue by charging users for this content, usually 315 Yen per month if they subscribe for a comic series, for example.
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