Japan-Based SmartNews Is Said to Eye October Listing in Tokyo

SmartNews Inc., a Japanese news aggregation app operator, is considering a Tokyo listing as soon as October for its initial public offering, according to people familiar with the matter.

The valuation could be lower than its most recent major funding round in 2021, when the company was valued at $2 billion, the people said, asking to not be identified because the information is private. Deliberations are ongoing, and details of the potential IPO — including timing and valuation — could change, particularly given recent market volatility, the people said.