Minnadeooyasan-Hanbai (MOH Nippon) (LSE: MOH)has joined the London Stock Exchange (LSE) via a reverse merger. According to a note from the company, Minnadeooyasan-Hanbai is the first Japanese firm to trade on the main market of the LSE in over 20 years. The company has changed its name from Bowen Fintech Plc to MOH Nippon Plc. Bowen Fintech was a SPAC that was formed to invest the financial services sector. In December 2023, a non-binding announcement was made in regard to the acquisition.
MOH was acquired from Kyosei Bank Co., Ltd, which constitutes a reverse takeover under the UK listing rules. In July, the company entered into an acquisition agreement, to conditionally acquire 97.41% of the issued share capital of MOH from KBC for a total consideration of £34,466,864. At the time of the announcement the company said MOH was well placed to benefit from the sustained growth in the crowdfunding real estate investment market in Japan.
MOH is a real estate investment platform that is well established in the Japan with a market value of £43 million. The crowdfunding platform reports having orginated ¥ 277 billion (or around £1.45 billion) from 2007 to 2023.
Aamir Quraishi, non-Executive Chairman of MOH, said they are pleased to have completed the listing on the LSE.
“… this is a very proud moment for all of us at the company. We are excited to embark on this new phase having started as a special purpose acquisition company, and to now be delivering on our growth strategy as MOH Nippon with new colleagues and an established operational business. We thank shareholders for their support and look forward to providing further updates on our progress.”
MOH was founded in August 1998 by Kenichi Yanase and was originally involved in investing and managing
smaller commercial and residential units in Japan.
In 2007, MOH commenced crowdfunding services for land development projects that it managed and commercialised itself.
MOH explained that it does not receive or manage any investor funds in relation to crowdfunding, but acts purely as a crowdfunding services provider.
More recently, MOH has started to invest directly in certain projects.
Going forward, MOH indicated it would look to boost its client base and pursue its cold chain logistics business internationally.
