January 19, 2018 / 12:53 AM / in a year

Japanese marketplace app Mercari eyes Tokyo listing in June: Nikkei

(Reuters) - Japanese marketplace app operator Mercari is looking at a Tokyo listing in June that could give it a market value of more than 200 billion yen ($1.8 billion), the Nikkei newspaper said on Friday.

The listing had initially be slated for 2017 but was delayed due to discussions with the country’s Financial Services Agency over which business category it should be placed in, the Nikkei said, adding that the matter has now been resolved.

The company, which allows users to easily sell and buy second-hand goods, will use the proceeds to fund expansion in overseas markets and new businesses, the paper said.

Mercari representatives could not immediately be reached for comment.

Reporting by Rushil Dutta in Bengaluru; Additional reporting by Makiko Yamazaki in Tokyo; Editing by Edwina Gibbs

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