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(Photo= Yonhap news) |
[Alpha Biz= Reporter Kim Jisun] According to industry sources on the 3rd, Oasis has sent a letter of intent to Nile Holdings Consortium, the financial investor leading the sale of 11th Street.
An Oasis representative stated, "We have submitted a letter of intent for the acquisition of 11th Street to the financial investor, and we are awaiting their response. Nothing has been finalized yet regarding the acquisition of 11th Street."
In the industry, attention is drawn to Oasis's interest in 11th Street amidst considerations of relaunching its initial public offering (IPO). Oasis attempted a KOSDAQ listing last year but withdrew due to undervaluation by institutional investors.
Founded in 2011, Oasis is known for its annual profitability in the distribution platform sector. In the first quarter of this year, it reported its highest-ever quarterly operating profit of 6.2 billion won. Its current cash reserves stand at approximately 1.2 trillion won.
11th Street, listed for sale, ranks as the third-largest e-commerce platform in South Korea after Coupang and Gmarket, with the sale price sought by financial investors reportedly around 500 billion won.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
