FOLIO Holdings

FOLIO Holdings (Ticker: 677A JP) provides a platform connecting investment managers and financial institutions for discretionary investment services. Its 4RAP platform enables users to offer multiple products and discretionary investment services. Its ROBOPRO service adjusts investment allocations using AI-generated forecasts of market fluctuations. The company also offers generative AI solutions to businesses and financial institutions.

FOLIO Holdings expects to begin trading on Tokyo Stock Exchange on December 17, 2026. The base offering comprises 16,949,500 shares: 3,050,000 newly issued shares and 13,899,500 shares sold by existing shareholders. At the indicative price of JPY 865 per share, the offering would represent approximately JPY 14.66 billion in gross proceeds, equivalent to approximately $91.80 million. The company expects to offer up to 2,542,400 additional shares through a separate over-allotment option. At the indicative price, estimated IPO market capitalization is JPY 52.91 billion, or approximately $331.29 million; this estimate excludes the optional over-allotment and unexercised stock options.

Founded on April 1, 2019, FOLIO Holdings is expected to remain a consolidated subsidiary of SBI Holdings after the listing, with the group retaining control. If the over-allotment option is fully exercised, the group is expected to hold 59.8% of voting rights. Net proceeds from the newly issued shares are intended for investment in the FOLIO subsidiary, specialist hiring and repayment of existing borrowings.

Underwriters include Daiwa Securities, SMBC Nikko Securities and SBI Securities.