South Korea’s Viva Republica drops Korean IPO plan, seeks US debut

Quick Summary:

The company plans to choose its IPO managers by the end of this year for a debut on the Nasdaq or the New York Stock Exchange (NYSE) in the second half of next year or in early 2026, sources said.“Korean fintech companies have not demonstrated a decent growth trajectory, and skepticism about the platform business model has dampened investor sentiment,” said an industry source.“In contrast, the US market is again favoring growth potential over immediate profitability for fintech firms.

Viva Republica Inc., a leading South Korean fintech unicorn and operator of mobile financial super app Toss, has dropped its plan to go public in the country and is instead seeking a US market debut.

In February, the fintech company named Mirae Asset Securities Co.and Korea Investment & Securities Co.as lead underwriters and Samsung Securities Co.a co-underwriter for an IPO on the Korean stock market.

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Article Details

Category: Economy

Markets: South Korea

Topics: Fintech Securities Investment Financial Toss Market Companies Korean Republica Viva Korea

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-29 @ 21:31:17 (2 days ago)

News Timezone: GMT +8:00

News Source URL: kedglobal.com

Language: English

Article Length: 523 words

Reading Time: 3 minutes read

Sentences: 23 lines

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