According to publicly available information, Japan’s powerhouse forex broker, GMO Click, has unveiled a plan to be listed on the Tokyo Stock Exchange’s JASDAQ market. The company will go public in the second quarter of next year just as the Japanese stock market is booming following unprecedented monetary policy easing measures by the Bank of Japan.
GMO Click will also engage in a stock swap transaction with its parent company GMO to acquire ownership of FX Prime, which is already listed on the Tokyo Stock Exchange.
The company’s share price has rallied almost 12% in Tokyo trading today in light of the acquisition announcement. FX Prime by GMO Corporation will be acquired effective from April 1st of 2015. Shares of FX Prime will be exchanged for one share of GMO Click Holdings, totaling 1,788,409 shares.
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GMO Click Holdings holds a majority 76.04% stake in FX Prime by GMO Corporation which it acquired back in 2012 in a deal which valued the company at $42 million. FX Prime will be delisted from the Tokyo Stock Exchange on March 27, 2015, while the stock of GMO Click Holdings will begin trading on Tokyo Stock Exchange, effective from April 1st.
GMO Click Holdings is a 100% subsidiary of Japanese internet service provider, GMO Internet, which is already listed on the Tokyo Stock Exchange. Shares of the company rallied 4.2% in Tokyo trading today in line with the broad stock market.
Trading volumes at GMO click have spiked higher substantially in September, rising as much as 79% when compared to the previous month which was already 25% higher than in July, as the broad forex brokerage industry was struggling with 21-year low volatility on the foreign exchange market.
GMO Click Securities (GMO) has been granted authorization by the Financial Conduct Authority (FCA) in the UK bidding to grow its brand worldwide.
When GMO Click Holdings goes public, its parent company GMO Internet is expected to retain a majority stake totaling 90% of the outstanding stock of the biggest Japanese retail forex brokerage.