【Taipei, Taiwan - December 8, 2022】Appier Group, Inc. (“the Company”), today announced that it has received approval from the Tokyo Stock Exchange (TSE) to change the market on which the Company's shares are listed from the Growth Market segment to the Prime Market, effective December 15, 2022.
Appier was listed on the TSE Mothers (currently known as “Growth”) market in March 2021 and has maintained a strong and steady growth since its listing. Recently, Appier met the requirements of the Prime Market segment transfer defined by TSE, these indicate that the company's revenue must exceed 10 billion yen and its market capitalization value must exceed 100 billion yen for a continuous period of one month. After a thorough review process, TSE confirmed the approval of Appier's Prime transfer application today.
Appier is the 3rd company to transfer from the Mothers (Growth) to Prime segment after the TSE restructuring. From the IPO to the completion of the Prime approval, Appier took just one year and nine months. This is based on the company’s financial performance reaching the target on schedule and over expectations. Appier's full-year guidance has been revised up three times in a row this year to reflect its outperformance and strong business momentum. Its corporate value also increased despite the unstable market conditions in 2022.
TSE announced a new structure of stock market divisions on April 4th, 2022, merging the original 4 sectors: 1st Section, 2nd Section, Mothers, and JASDAQ (Standard and Growth) into Prime, Standard, and Growth divisions. After the restructuring, the guideline for transferring from the Growth market to the Prime market became more stringent, reflected by the guidelines that the company's market capitalization value must exceed 100 billion yen and its revenue must exceed 10 billion yen.
"We sincerely express our gratitude to our shareholders, customers, employees, and partners for their support, which has enabled Appier to successfully complete the transfer of Prime in less than two years after its original listing. Appier is committed to becoming a strong and well recognized listed company, and the approval of changing the listing market to the Prime segment is an important milestone for the company. Following the segment transfer, we expect our investors to become more diversified and further enhance the company’s corporate value,” said Dr. Chih-Han Yu, CEO and co-founder of Appier.
For more information regarding the TSE Prime Market, please refer to the Japan Exchange Group’s website (www.jpx.co.jp/english/) or Appier IR website ( ir.appier.com/en/).
About Appier
Appier (TSE: 4180) is a software-as-a-service (SaaS) company that uses artificial intelligence to power business decision-making. Founded in 2012 with a vision of democratizing AI, Appier now has 17 offices across APAC, Europe and US, and is listed on the Tokyo Stock Exchange
