Spot work startup Timee shares surge 30% in Tokyo, valued at $1.1 billion

From Investing.com: 2024-07-25 23:21:05

Shares of startup Timee skyrocketed 30% in Tokyo debut, opening at 1,850 yen and valuing the company at $1.1 billion. The app connects workers with short-term shifts at various businesses for quick payment. Jefferies initiates coverage with buy rating and 2,200 yen price target, citing balanced service and worker data pool.

Timee’s IPO raises approximately $350 million, including overallotment, with CEO Ryo Ogawa among sellers. The company’s listing plans were originally reported by Reuters, marking a successful debut in the Tokyo stock market.



Read more at Investing.com: Spot work startup Timee shares pop 30% in Tokyo debut By Reuters