Tonik, Philippines' First Digital Bank, Eyes Tokyo IPO After TSE Selection
Tonik, the Philippines' first digital bank, has been selected by the Japan Exchange Group for its 'TSE Asia Startup Hub' program in 2025. This marks a significant step towards a potential initial public offering (IPO) in the Tokyo stock market. The company's founder and CEO, Greg Krasnov, has expressed a preference for the Tokyo market due to its liquidity and has hinted at a three-year roadmap to achieve an IPO.
Tonik's recent financial performance has been robust, with a 25% reduction in pre-tax loss to $21.9 million in 2024 and a 23% increase in income to $24.6 million. This improvement, coupled with the company's selection for the TSE program, has opened doors to a potential listing in the Tokyo stock market. Greg Krasnov views Mizuho Bank's 10% stake and potential involvement as a significant validation point and suggests they could serve as the underwriter for the IPO. However, there is no public evidence supporting the discussion of a specific Japanese investment bank as a possible bookrunner for the planned IPO.
A 'unicorn plus' valuation would be more attractive for Tonik in the Tokyo stock market, given its liquidity and the interest of key investors like Mizuho Bank.
Tonik's selection for the TSE Asia Startup Hub program and its strong financial performance have set the stage for a potential IPO in the Tokyo stock market. Greg Krasnov's preference for the Tokyo market and the potential involvement of Mizuho Bank could facilitate this process. The company's roadmap aims to achieve this IPO within the next three years, making it an exciting time for Tonik and the digital banking sector in the Philippines.
Read also:
- Industrial robots in China are being installed at a faster rate than in both the United States and the European Union, as the global market for these robots faces a downturn.
- NATO's Massive Naval Drill Shows Unity Against Russian Aggression
- Undeads Games Reaches $30 Million TVL and Gears Up for MMORPG Debut
- Hyundai N affirms transition to hybrid performance-centric models, initiating with Tucson N
