Tokyo University of Science is set to exit the recruitment services group in an IPO in Tokyo.
Visional, the Japan-based operator of online recruitment service BizReach, which is backed by Tokyo University of Science, has been approved to list on the Tokyo Stock Exchange’s Mothers Market.
The initial public offering will involve the company issuing some 21 million shares with approximately 267,000 more for the overallotment option.
Nomura Securities and Mitsubishi UFJ Morgan Stanley Securities are lead underwriters for the listing, which is set to take place on April 22.
Founded in 2009 as human resources software platform operator BizReach, the company was transferred to the auspices of holding group Visional in February 2020.
The group’s other businesses include Calitre, a career change app for users in their 20s, and Standby, an online job search engine. It also operates investment initiatives including an incubator dubbed Visional Incubation and BizReach Founder Fund, which targets early-stage developers of artificial intelligence, blockchain and digitalisation technologies.
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