Advantage investee 1st Holding to go IPO
Advantage Partners-owned Japanese software maker 1st Holding, Inc. has filed for an initial public offering on the JASDAQ board, seeking to raise around JPY14 billion ($173.5 million) by selling around 16 million shares, according to reports.
As reported in Brightrust, the Tokyo-based private equity firm acquired around 50% of the company from WingArc Technologies, Inc, a software developer specializing in accounting sofware, in March 2004 when the original parent restructured its business. Ten underwriters have been appointed, including Daiwa Securities Co., as the leading arranger. 1st Holding engages in R&D, sales and support for Japanese-language business software. The share price for the IPO has been set at around JPY880 ($10.9) per unit, and the company is due to debut on December 1st.
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