Japanese asset management platform Syla Technologies files for $17M US IPO

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Japanese asset management platform Syla Technologies (SYT) has filed for a proposed $17M US initial public offering.

Syla didn't specify in its filing the number or price of the American Depositary Shares to be offered, but indicated in an attached filing fee schedule that it was looking to raise around $17M.

The company hopes to list its shares on NYSE or Nasdaq under the symbol SYT. Boustead Securities is serving as lead bookrunner.

Based in Tokyo, Syla operates an asset management platform targeted at individual investors called Rimawari-kun that is used to crowdfund the purchase and sale of real estate, solar power plants it builds, and computers it builds for purposes such as crypto currency mining.

Syla also offers a platform called Rimawari-kun Pro targeted at institutional investors, corporate investors and high net-worth individuals. The company also manages and maintains the properties, solar power plants and computers that it sells.

The company is profitable. For the six-month period ended June 30, Syla posted net income of $1M on revenue of $65M.

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