Business & Finance
KKR-Backed SmartHR Is Said to Delay Tokyo IPO Beyond This Year
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Is Said to Delay Tokyo IPO Beyond This Year Japanese human resources platform operator SmartHR Inc. has delayed its plans for an initial public offering to next year at the earliest as investors viewed the company’s targeted valuation as too high, according to people familiar with the matter. The software-as-a-service provider had aimed for a valuation of about $1 billion and is working with banks including Daiwa Securities Group Inc., Goldman Sachs Group Inc. and Morgan Stanley, people have...
KKR-Backed SmartHR Is Said to Delay Tokyo IPO Beyond This Year
Japanese human resources platform operator SmartHR Inc. has delayed its plans for an initial public offering to next year at the earliest as investors viewed the company’s targeted valuation as too high, according to people familiar with the matter.
The software-as-a-service provider had aimed for a valuation of about $1 billion and is working with banks including Daiwa Securities Group Inc., Goldman Sachs Group Inc. and Morgan Stanley, people have said. They said the details such as timing and valuation could change due to investors’ concerns over the disruptive impacts of the AI boom on the SaaS sector.