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Miguel Cordon · · 1 min readSources: Singapore’s Swat Mobility eyes IPO in Japan to bankroll expansion
“Swat Mobility, an on-demand bus service provider, is considering an initial public offering in Japan to bankroll its expansion,” Bloomberg reported, citing sources with knowledge of the situation.
Details:
- The Singaporean startup was said to have tapped an international auditing firm for its Tokyo stock exchange listing plans.
- One of the sources said that while the Japan listing is the company’s preferred route for going public, Swat still hasn’t ruled out a US IPO through a SPAC merger.
Context:
- Swat sees Japan as a promising market for its route-optimizing technology following a string of fatal accidents involving elderly drivers in the country, one of the sources said.
- The startup already counts Japanese automotive titan Toyota among its partners and serves customers such as Mitsui Fudosan and Jupiter Telecommunications.
Editing by Collin Furtado and September Grace Mahino
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