Sources: Singapore’s Swat Mobility eyes IPO in Japan to bankroll expansion

“Swat Mobility, an on-demand bus service provider, is considering an initial public offering in Japan to bankroll its expansion,” Bloomberg reported, citing sources with knowledge of the situation.nDetails:nnThe Singaporean startup was said to have tapped an international auditing firm for its Tokyo stock exchange listing plans.nOne of the sources said that while the Japan listing is the company’s preferred route for going public, Swat still hasn’t ruled out a US IPO through a SPAC merger.nnContext:nnSwat sees Japan as a promising market for its route-optimizing technology following a string of fatal accidents involving elderly drivers in the country, one of the sources said.nThe startup already counts Japanese automotive titan Toyota among its partners and serves customers such as Mitsui Fudosan and Jupiter Telecommunications.n