TOKYO (Reuters) – Shares in startup Timee, which operates a platform connecting employees in search of facet gigs with labour-strapped companies, rose roughly 30% on Friday of their Tokyo inventory market debut.
The shares opened at 1,850 yen, valuing the corporate at round $1.1 billion.
Timee’s app helps customers to work shifts lasting as little as one hour at eating places, comfort shops and inns in return for fast cost.
Jefferies this week initiated protection of Timee with a purchase ranking and a worth goal of two,200 yen, citing the nice steadiness of employees and firms on the service and pool of employee knowledge.
The preliminary public providing (IPO) raised roughly $350 million together with overallotment with sellers together with CEO Ryo Ogawa.
Timee’s itemizing plans had been first reported by Reuters.
