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Capital Markets

Flea market app Mercari eyes June listing in Tokyo

IPO could leave the Japanese 'unicorn' with a market cap north of $1.8bn

Established in 2013, Mercari gives users a simple way to buy and sell secondhand goods through an app on their smartphones.

TOKYO -- Flea market app operator Mercari looks to list on the Tokyo Stock Exchange's Mothers market for startups in June in what could be a big initial public offering.

The marketplace for secondhand goods is one of only a few Japanese "unicorns" -- an unlisted startup worth $1 billion or more -- according to a Nikkei survey. When it goes public, Mercari's market capitalization could top 200 billion yen ($1.8 billion), putting the company among the largest issues on the Mothers market. Top player Mixi and No. 2 issue Cyberdyne had market caps of 388.8 billion yen and 261.7 billion yen as of Thursday.

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