TSE withdraws approval of GMO Financial Gate’s initial listing

Maria Nikolova

The revocation is in line with an application made by the company, the Exchange says.

The Tokyo Stock Exchange today announces that it has revoked its approval of the initial listing of GMO Financial Gate.

As FinanceFeeds has reported, TSE had approved the initial listing of GMO Financial Gate, Inc. in March 2020. However, based on the company’s application, TSE today says it has withdrawn its approval.

GMO-FG, a subsidiary of GMO Internet Inc. (TYO:9449), commented that, at its Board of Directors meeting held on April 10, 2020, a decision was made to cancel the offering of new shares and sales of shares and to postpone listing procedures, following due deliberations of various circumstances and guidance from the lead manager, in light of the global contagion of COVID-19 as well as lack of visibility of containment efforts in Japan, considering the details of the declaration of an emergency situation.

The company says it intends to comprehensively assess the circumstances such as equity market trends in determining the timing to resume listing procedures.

GMO-FG offers payment processing services for offline payment, such as credit card and debit card.

Regarding the rationale for the listing of GMO-FG’s shares, GMO Internet explained in March that the business opportunities in the offline market in which GMO-FG operates have expanded significantly, thanks to the government’s move to tackle the issues of improving the security of cashless payments and to increase cashless penetration.

Read this next

Industry News

FINRA to publish transaction details in U.S. Treasury securities

“Consistent with our longstanding practice, FINRA is introducing greater transparency in a calibrated and careful manner, benefiting liquidity and resilience in this critical market while also mitigating potential information leakage concerns.”

Institutional FX

OpenYield launches “cheap and easy” fixed income trading for brokers

“We’re on a mission to make bonds cheap and easy to trade, and are excited about the opportunity to build generational capital markets infrastructure.”

Digital Assets

Sumsub and Mercuryo publish a guide for VASPs: “Mastering Travel Rule Compliance”

“At Sumsub, we’ve concentrated our efforts on filling the gap in understanding the complexity of Travel Rule regulation and helping organizations find the best solution to stay safe and compliant while minimizing costs and avoiding potential risks of non-compliance. This guide we created with Mercuryo, our trusted partner, is the ultimate navigation tool all VASPs can consult.”

Digital Assets

Bitget Wallet Leads with Record Swap Volume & New Crypto Innovations

This week, Bitget Wallet achieved a milestone by surpassing Metamask with a record 388,757 Swap order transactions, securing the global lead. The significant 7-day trading volume, almost 68,000 more than its rival, underscores its liquidity and user trust. This robust activity signals Bitget Wallet’s prominent role and reliability in the dynamic crypto market.

Digital Assets

Embarking on a Digital Currency Journey

Imagine you’ve stumbled upon a treasure map, leading you to untold riches hidden in the vastness of the internet. Instead of gold coins and jewel-encrusted goblets, this treasure comes in the form of digital currencies, the modern-day loot coveted by many.

Reviews

Traders Union Experts Share The Trading Analyst Review For 2024

Navigating options trading in rapidly shifting markets poses a considerable challenge. This is where options trading alert services become invaluable. They aid traders in keeping abreast of evolving opportunities and market trends. In this assessment, Traders Union experts scrutinize The Trading Analyst alert service to ascertain its efficacy. 

Digital Assets

BlockDAG’s Presale Achieves $9.9M: Aiming For A 5000-Fold ROI As Cardano’s Price Rises And Fantom Launches Sonic

Explore Cardano’s surge, Sonic’s efficiency, and why BlockDAG’s growth makes it the top crypto choice. A deep dive into the future of blockchain investments.

Digital Assets

US, UK probe $20 billion Tether transfers tied to Russian exchange.

U.S. and UK authorities are investigating the movement of $20 billion in the USD-pegged stablecoin tether (USDT) through Moscow-based exchange Garantex.

Digital Assets

BlockDAG Presale Raises $9.9M as Batch 5 Nears Sell-Out Amid Bonk’s Fluctuating Trading Volume & Spell’s Bullish Price

Explore BONK’s trading volume, SPELL’s market shifts, and why BlockDAG’s 10,000 ROI makes it an ideal crypto for savvy investors in 2024.

<