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(Photo= Yonhap news) |
[Alpha Biz= Reporter Kim Jisun] Viva Republica, the company behind the financial service Toss, is reportedly shifting its focus from a domestic IPO to pursuing an initial public offering (IPO) on the U.S. stock market.
On the 29th, a representative from Viva Republica stated, "We are actively considering the option of proceeding with an IPO in the U.S. before pursuing a listing in Korea." However, the specific timing and details of this plan have yet to be determined.
Viva Republica has allegedly informed its IPO underwriters that it will halt its plans for a domestic listing. Previously, in February, Toss had appointed Korea Investment & Securities and Mirae Asset Securities as its lead underwriters, with Samsung Securities as a co-underwriter.
The decision to pivot towards the U.S. market appears to stem from a belief that the company may not receive adequate recognition for its growth potential and business value in the domestic market. Additionally, K-Bank, an internet-only bank that was also planning to list on the KOSPI, recently postponed its IPO plans until next year.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
