Photo courtesy of Yonhap News

 

 

[Alpha Biz= Paul Lee] Viva Republica, the operator of the fintech platform Toss, has begun preliminary steps toward a potential listing on the South Korean stock market.

According to the ICT industry on March 5, the company recently inquired with the Financial Supervisory Service (FSS) about guidelines for preparing a domestic listing, including procedures for applying for and assigning a designated external auditor.

Applying for a designated auditor is a process in which companies preparing for an initial public offering (IPO) undergo pre-listing financial audits conducted by accounting firms appointed by financial authorities.

A Viva Republica official said, “We are reviewing various scenarios for a successful listing, but we cannot confirm specific plans at this stage.”

The company had previously been widely reported to be preparing for a U.S. listing.

Viva Republica has reportedly begun preliminary consultations with the U.S. Securities and Exchange Commission (SEC) regarding a potential listing on a U.S. exchange, with market speculation suggesting the IPO could take place as early as this year.

 

 

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