GMO Click Approved for Public Listing on Tokyo Stock Exchange on April 1st

One of Japan’s giant Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term brokers, GMO CLICK Holdings, has progressed with a public listing application for the Tokyo Stock Exchange and today received approval to be listed on the JASDAQ market.

As Forex Magnates previously reported, On October 31, 2014 GMO Internet Inc. consolidated its subsidiaries, GMO CLICK Holdings Inc. and FX Prime by GMO Corporation, and executed a stock swap agreement under which GMO CLICK Holdings would become the wholly-owning parent company of FX Prime by GMO.

The stock swap agreement was approved by extraordinary stockholder meetings convened by both companies on December 24, 2014, with an effective date of April 1, 2015. As a result of the stock swap, GMO CLICK Holdings will become the wholly-owning parent, and FX Prime by GMO will become a wholly-owned subsidiary. GMO CLICK Holdings shares will be listed in a technical listing. The listing is expected to take place on April 1, 2015, the effective date of the stock swap.

Currently, GMO CLICK HOLDINGS is under evaluation to determine that it meets the Tokyo Stock Exchange Standards for New Listing by the effective date of the Stock Swap and says it is making every effort to ensure that a probation period is not declared.

GMO Internet holds more than 90% of voting rights in GMO CLICK HD, and is thus defined as a "Special Controlling Shareholder." As a special controlling shareholder the company expects to gain the right to demand that all holders of shares and equity warrants other than the special controlling shareholder must sell all shares back to the company without requiring a resolution of a general shareholders assembly.

The group adds that, because FX Prime by GMO is already a consolidated subsidiary of GMO CLICK Holdings, the stock swap is not expected to materially impact consolidated forecasts.