Tonik, First Philippine Company, Selected for TSE Asia Startup Hub
Tonik, a Philippine digital bank, has been selected by the Japan Exchange Group for its 'TSE Asia Startup Hub' program in 2025. This marks the first time a Philippine company has been chosen for the Tokyo Stock Exchange's initiative, potentially paving the way for an initial public offering (IPO).
Tonik's Founder and CEO, Greg Krasnov, has expressed plans to list the company in Tokyo within a three-year roadmap. This move is supported by the bank's significant growth and improved financial performance. In 2024, Tonik's pre-tax loss decreased by 25% to $21.9 million, while income grew by 23% to $24.6 million.
Krasnov prefers Tokyo as the listing destination due to its liquidity and potential for a 'unicorn plus' valuation. A public listing is a common strategy for fast-growing digital banks to access capital for expanding loan books and meeting regulatory requirements. The selection could serve as a significant validation point for Tonik's growth and potentially serve as the underwriter for the IPO, with Mizuho Bank, which owns a 10% stake in the company, playing a key role.
Tonik's inclusion in the 'TSE Asia Startup Hub' program and potential IPO in Tokyo signals a significant step forward for the Philippine digital bank. With strong financial performance and strategic backing, Tonik is poised for further growth and expansion.
