“The deal was announced on 29 March in order to increase Rakuten’s operational efficiencies and enhance the quality of C2C services.”
According to the company, the deal is an absorption-type merger of a wholly owned subsidiary and has proceeded without receiving approval of its shareholders.
Following the merger, Rakuten will not change significant company details such as the business name, head office or shareholder equity.
Rakuten acquired a 100% stake in Fablic in September 2016 and made the company as its wholly owned subsidiary.
Headquartered in Tokyo, Rakuten offers a wide range of services for consumers and businesses in e-commerce and other domains.
The company currently operates businesses across Asia, Europe, the US and Oceania, as well as employs 13,000 people worldwide.
In November 2014, Rakuten launched Rakuma, a C2C marketplace app for smartphones.
What’s missing from your IPO industry assessment?
IPO activity all but stopped in 2020, as the investment community grew wary of the effects of COVID-19 on economies. No matter how deserving a business was of flotation, momentum was halted by concerns of when a ‘new normal’ of working patterns and trade would set in.
Recently, sentiment has changed. Flotations picked up again during the second half of 2021, and now in 2022 the mood is decidedly optimistic. Business leaders have their eyes on fast rebounding economies, buoyant market indices and the opportunity once again to take their businesses public. As a result, global IPOs are expected to hit back this year.
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