Deals
Mercari Jumps 77% in Tokyo Debut After $1.2 Billion IPO
- The IPO is Japan’s biggest for a tech company since July 2016
- Mercari will use proceeds to expand into payments and overseas
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Mercari Inc. soared on its first day of trading on the Tokyo Stock Exchange, underscoring investor optimism in its prospects.
Shares of the Japanese online marketplace traded at around 5,300 yen as of 11:25 a.m. in Tokyo on Tuesday, rallying from the 3,000 yen price at the initial public offering on June 11.