SM Shipping Accelerates KOSDAQ Listing... Submitted for Preliminary Review

SM Shipping's 'SM Mumbai' vessel

[Asia Economy Reporter Dongwoo Lee] SM Line announced on the 13th that it has submitted a preliminary listing examination report to the Korea Exchange KOSDAQ Market Headquarters.

Considering the 30 business days required for the preliminary examination, SM Line plans to proceed with related work aiming for a listing in the second half of the year. The lead underwriter is NH Investment & Securities.

SM Line explained that it judged this year to be the optimal time for an initial public offering (IPO), as the recovery of the container transportation market is expected to enable stable profit generation over the long term.

SM Line's business divisions consist of the shipping division and the construction division. On a consolidated basis, the combined sales of the shipping and construction divisions last year were 1.0328 trillion KRW, operating profit was 140.6 billion KRW, and net income was 107.6 billion KRW.

The shipping division is one of the two major domestic national deep-sea shipping companies, providing optimal cargo transportation services in the Americas and Asia markets. Currently, it operates 8 routes in Asia and 4 routes in the Americas.

In particular, the Americas routes maintain strong partnerships with domestic and international shippers, securing competitiveness through its operational systems and professional personnel.

Park Ki-hoon, CEO of the shipping division, stated, “All employees will do their best to secure competitiveness by proactively responding to an uncertain future without being complacent with the current boom.” Jung Kwang-yeol, CEO of the construction division, also added, “Through the IPO, we will firmly establish our competitiveness as a construction company with the best technology and construction capabilities.”

This content was produced with the assistance of AI translation services.