Patrick Frater Asia Bureau ChiefKakao Piccoma, a Japanese online animation firm, has reportedly pushed back its plans for a share listing on the Tokyo Stock Exchange, previously indicated for December this year.
The company hopes that the delay will help it hold on to a $6 billion valuation.The company is jointly owned by Kakao, the Korean tech and messaging giant, and Kakao Entertainment, with shareholding respectively 73% and 18%.
Piccoma raised finance last year though a private share sale that brought in Anchor Capital, valued it at JPY847 billion ($6.17 billion at current exchange rates).
News of the delay was reported by the Bloomberg agency and multiple Asian financial sources. “Piccoma plans to go public, but details of the IPO, including the timing, continue to be under review, a company representative said without elaborating,” Bloomberg said.
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