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Japanese asset management platform Syla Technologies files for US$17 million IPO


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Japanese asset management platform Syla Technologies (SYT) filed a US$17 million initial public offering proposal.

Syla did not specify in its profile the quantity or price of the United States Depository Shares to be offered, but specified in a Application fee schedule attached that it is looking to raise about $17 million.

The company hopes to list its shares on the NYSE or Nasdaq under the symbol SYT. Boustead Securities is acting as the lead bookseller.

Headquartered in Tokyo, Syla operates an asset management platform aimed at individual investors called Rikawari-kun, which is used to crowdfund for the purchase and sale of real estate, houses, and homes. solar generators it builds and computers it builds for purposes such as cryptocurrency mining.

Syla also offers a platform called Rikawari-kun Pro aimed at institutional investors, corporate investors and high net worth individuals. The company also manages and maintains the properties, solar plants, and computers it sells.

The company is profitable. For the six-month period ending June 30, Syla posted net income of $1 million on sales of $65 million.

For more IPO news, check out SA’s IPO news site.

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