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CTW Cayman Announces Pricing of Initial Public Offering (IPO)

Strategic Insights

— 2 min read

CTW Cayman, a leading game platform company, has announced the pricing of its initial public offering (IPO) of 2,400,000 Class A ordinary shares at a public offering price of $5.00 per share. The shares are expected to commence trading on the Nasdaq Capital Market under the ticker symbol "CTW" on August 6, 2025. The IPO is expected to raise $12.0 million in gross proceeds before deducting underwriting discounts and other related expenses.

CTW's flagship HTML5 platform, G123.jp, showcases a diverse selection of free-to-play games inspired by popular Japanese animations. According to a Frost & Sullivan Report, CTW was the largest anime IP-based H5 games platform in the world in 2023 in terms of gross billings. The company plans to use the IPO proceeds primarily to support its global market expansion initiatives, which are expected to account for approximately 85% of the net proceeds, with the remainder allocated to general working capital and other corporate purposes.

Key Takeaways:

  • CTW Cayman has priced its initial public offering (IPO) of 2,400,000 Class A ordinary shares at a public offering price of $5.00 per share.
  • The shares are expected to commence trading on the Nasdaq Capital Market under the ticker symbol "CTW" on August 6, 2025.
  • The IPO is expected to raise $12.0 million in gross proceeds before deducting underwriting discounts and other related expenses.
  • The company plans to use the IPO proceeds primarily to support its global market expansion initiatives, which are expected to account for approximately 85% of the net proceeds.
  • CTW's flagship HTML5 platform, G123.jp, showcases a diverse selection of free-to-play games inspired by popular Japanese animations.
  • According to a Frost & Sullivan Report, CTW was the largest anime IP-based H5 games platform in the world in 2023 in terms of gross billings.
  • CTW's primary focus is to provide a comprehensive platform that helps game developers generate revenue from underlying Japanese anime IP by reaching a global player audience.
  • Through its gaming platform, CTW shares revenue generated from players' in-game purchases worldwide with game developers.

Statistics:

  • 2,400,000 Class A ordinary shares are being offered by CTW Cayman in the IPO.
  • The public offering price is $5.00 per share.
  • The gross proceeds from the IPO are expected to be $12.0 million.
  • 85% of the net proceeds from the IPO are expected to be allocated to support global market expansion initiatives.
  • CTW's flagship platform, G123.jp, features a diverse selection of free-to-play games inspired by popular Japanese animations.
  • In 2023, CTW was the largest anime IP-based H5 games platform in the world in terms of gross billings, according to a Frost & Sullivan Report.

Sources:

  • GlobeNewswire, "CTW Cayman Announces Pricing of Initial Public Offering (IPO)" (August 5, 2025)
  • CTW Cayman press release (August 5, 2025)
  • Frost & Sullivan Report, "Anime IP-based H5 Games Platform Market" (2023)

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