Coincheck completes procedures for going public on Nasdaq
Coincheck Group N.V., a consolidated subsidiary of Monex Group, Inc., today announced that it has completed the procedures for going public on the Nasdaq Global Market in the U.S.
Coincheck’s shares are scheduled to become publicly available on Nasdaq as a ticker symbol “CNCK,” starting on December 11, 2024 (EST).
The company aims to accelerate its credibility and growth as a Nasdaq listed company, to aggressively expand its business in the crypto asset and web3 areas through strategic initiatives such as global recruitment, acquisitions, and capital and business alliances.
As a result of the listing, Monex will hold approximately 80% of Coincheck’s shares (109 million shares, equivalent to a market capitalization of USD 1.3 billion out of the overall market capitalizaion of USD 1.6 billion).
After the completion of the listing, Coincheck will pay up to approximately 5.9 billion yen in fees and other expenses to financial advisors, underwriting securities firms, and other professionals, as well as approximately 9.4 billion yen of non-cash expense, based on International Financial Reporting Standards (IFRS,) for the shares issued to the existing shareholders of Thunder Bridge Capital Partners IV, Inc. (“THCP”).
As a result, one-time expenses totalling up to approximately 15.3 billion yen will be recorded in the Q3 of the FYE March 31, 2025.