CTW Cayman, a Japanese web-based gaming platform, announced terms for its IPO on Thursday.
The Tokyo, Japan-based company plans to raise $17 million by offering 3 million shares at a price range of $5 to $6. At the midpoint of the proposed range, CTW Cayman would command a market value of $347 million. The IPO float is 4.8% of basic shares outstanding.
CTW is a globally accessible, web-based gaming platform, offering players an immersive digital space through its flagship HTML5 platform, G123.jp. Its platform showcases a diverse selection of free-to-play games inspired by popular Japanese animations, and its primary focus is serving game developers as core customers by providing a comprehensive platform that helps them generate revenue and reach a global audience. The company currently has 28 games on its platform and 9 games in pre-registration.
CTW Cayman was founded in 2013 and booked $76 million in revenue for the 12 months ended January 31, 2025. It plans to list on the Nasdaq under the symbol CTW. Kingswood Capital Markets and TFI Securities are the joint bookrunners on the deal.
