TSE withdraws approval for listing of SBI Sumishin Net Bank
TSE today announced the revocation of the initial listing approval (1st Section) for SBI Sumishin Net Bank,Ltd.
TSE had approved the initial listing of SBI Sumishin Net Bank,Ltd. However, based on the company’s application, TSE has withdrawn its approval.
SBI issued the following statement on the matter:
“At its board of directors meeting held on March 7, 2022, SBI Sumishin Net Bank, Ltd. (President & CEO: Noriaki Maruyama, hereinafter “SSNB”) resolved to cancel the issuance and sale of its shares in connection with the listing of SSNB on the Tokyo Stock Exchange pursuant to the board of directors resolution on February 15, 2022, and to postpone the listing procedures of SSNB on the Tokyo Stock Exchange, upon comprehensive consideration of environmental factors including the situation in Ukraine and recent market movements. SBI Holdings, Inc. (President & CEO: Yoshitaka Kitao) and Sumitomo Mitsui Trust Bank, Limited (President: Kazuya Oyama) accordingly hereby announce the cancellation of the sale of SSNB’s shares.
Any future recommencement of the listing procedures will be determined based on a comprehensive assessment of market movements and other factors”.