Globis, Intel-backed V-Cube files for Tokyo IPO
V-Cube,a Japanese developer of web-conferencing and webinar systems backed by Intel Capital and Globis Capital Partners, has filed for its Tokyo IPO.
According a filing, the company plans to sell 1.16 million shares, including 600,000 new shares, when it lists on the MOTHERS (market of the high-growth and emerging stocks) section of the Tokyo stock exchange next month. Intel and Globis own 15.07% and 13.16% of the company, respectively.
V-Cube was first established in 1998 as B2B IT solutions firm. Its flagship service is to provide web-based video conferencing to corporate users through cloud and on-premises licenses. Users are able to engage in video, audio, chat, document sharing and telephone conferencing via an all-in-one browser interface across operating systems including smart phones and tablets.
Intel Capital first invested in the company back in November 2009 while Globis made its first investment in the company in August 2011 through Globis Fund III, $184 million vehicle which reached a final close in 2006.
This is the second venture-backed Japanese IPO filing announced in just over a week. Last Tuesday, Ride On Express, a Japanese food delivery franchise operator backed by Jafco Ventures, filed for its IPO on the same section of the exchange.
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