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🇰🇷 South Korea /Economy & Trade

Musinsa Starts IPO Process With Preliminary KOSPI Listing Review

From Dong-A Ilbo · () Korean

Translated from Korean and summarized by DistantNews. Read the original for the full story.

At a glance

News Named sources New plan
  • Musinsa submitted an application for a preliminary KOSPI listing review, starting its initial public offering process.
  • The company could launch its offering in the first half of next year, with a reported target valuation of up to 10 trillion won.
  • First-half revenue rose 22.6% to 821.7 billion won, while operating profit fell 11.2% to 52.3 billion won.

Musinsa has formally set its initial public offering in motion by applying for a preliminary review for a KOSPI listing.

The fashion platform submitted the application to the Korea Exchange on the 7th. Because the process typically takes about four months from review application to listing, the company is expected to pursue a public offering in the first half of next year.

Korea Investment & Securities and Citigroup Global Markets Securities are serving as the listing managers. Industry sources say Musinsa is seeking a valuation of up to 10 trillion won.

As of the end of June, Musinsa board chairman Cho Man-ho and 26 other shareholders held 54.2% of the company. The company reported record first-half revenue of 821.7 billion won on a consolidated basis, up 22.6% from a year earlier. Operating profit, however, fell 11.2% to 52.3 billion won as costs rose and selling, general and administrative expenses increased amid expanded global investment.

About this summary

Originally published by Dong-A Ilbo in Korean. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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