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| 11번가. (사진=11번가) |
[Alpha Biz=(Chicago) Reporter Kim Jisun] Qoo10, an overseas direct purchase platform, is conducting due diligence to acquire management rights on 11th Street.
According to the distribution industry on the 9th, Qoo10 recently began due diligence on 11th Street. The move came after Qten earlier expressed its intention to take over SK Square, the largest shareholder of 11th Street. The move came after Qoo10 was granted the right to conduct due diligence after coordination between the two sides. Due diligence on law and finance is expected to determine the size and timing of the 11th Street stake to be purchased by Qoo10.
Qoo10 is said to have launched a project fund to raise money for the transaction.
On the other hand, the market currently sees 11th Street's corporate value as around 1 trillion won. When the Gmarket was acquired by E-Mart in 2021, 3.3 times the PSR (price-to-sales ratio) was applied and the corporate value was estimated at 4.3 trillion won. It is predicted that more than 1 times lower PSR will be applied due to unstable economic conditions at home and abroad. 11th Street's sales last year were 789 billion won. Operating loss was 151.5 billion won and net loss was 103.8 billion won.
According to the Financial Supervisory Service, SK Square has a 80.26% stake as the largest shareholder as of the end of last year, and the second-largest shareholder with a 18.18% stake in the Nile Holdings Consortium. The share of equity stocks was 1.55% and the share of other shareholders was 0.01%.
AlphaBIZ 김지선(stockmk2020@alphabiz.co.kr)
