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[Alpha Biz=(Chicago) Reporter Paul Lee] E-commerce company Oasis eventually withdrew its listing plan. It is the second e-commerce listing withdrawal this year after Kurly.
Oasis announced on the 13th that it has submitted a withdrawal report in consideration of market conditions that make it difficult to properly evaluate the company's value. It plans to re-promote the listing after having external growth.
The direct reason behind the withdrawal of the listing is sluggish demand. Oasis conducted a demand forecast for institutional investors from the 7th to the 8th at a public offering price of 30,500 won to 39,500 won. Although the results of the demand forecast have not been disclosed, orders are known to have come far below the desired public offering price.
Oasis said in a press release, "The IPO market has shrunk due to the recent worsening internal and external economy, which has a very negative impact on investor sentiment, making it difficult for corporate value to be properly evaluated." He added, "As the only surplus company in the industry, we decided that there was no need to push ahead with the listing at a time when we already had funds for sustainable growth."
In particular, Unison Capital Korea, which calculated and invested its corporate value at 750 billion won, reportedly protested greatly. Unison Capital Korea participated in a paid-in capital increase worth 50 billion won in 2021 and became the third-largest shareholder, and has since purchased shares from existing shareholders and now holds a total stake of 10.41%.
Besides, Korea Investment & Securities, NH Investment & Securities (January 2021, 5 billion won, respectively), Home & Shopping (February 2022, 10 billion won), and E-Land (June 2022, 33 billion won) evaluated Oasis corporate value at more than 1 trillion won.
Oasis says it will continue to push ahead with the business plan it revealed during its initial public offering even after its listing is withdrawn.
AlphaBIZ 폴리(hoondork1977@alphabiz.co.kr)
