Japanese firm to make 'historic' IPO in Singapore

After snubbing its home country.

According to a report by Bloomberg, Xyec Holdings Co. (XYEC), the first Japanese company to debut only in Singapore, plans to expand its information technology business in Southeast Asia through acquisitions and by hiring local talent.

The company plans to raise a couple of million dollars in an initial public offering and start trading on Singapore’s Catalist board for smaller enterprises on Sept. 18, Chief Executive Officer Manabu Kobayashi said. Tokyo-based Xyec is in talks with two Singaporean companies in the information technology industry about possible deals, he said, declining to elaborate because the talks are private.

Read full report here.

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