K Car, Submission of Securities Registration Statement

[Asia Economy Reporter Hwang Yoon-joo] K Car announced on the 30th that it has submitted a securities registration statement to the Financial Services Commission and has entered the full-scale listing process on the Korea Exchange.

K Car is the largest used car platform company in Korea, with Han & Co Auto Service Holdings Limited owning 100% of its shares.

The company directly operates the entire process of used car purchase, inspection, management, and sales, and has 41 directly managed stores nationwide. Last year, the total number of cars sold was 113,000 units.

The company explained that its non-face-to-face used car purchase service, "Naechasagi Home Service," which was first introduced in Korea, recorded a compound annual growth rate of 39.5% in sales volume over the past three years.

Sales revenue in the first half of this year was 910.6 billion KRW, and operating profit was 38.5 billion KRW.

The total number of shares offered in the public offering is 16,830,288 shares. The expected offering price range is 34,300 KRW to 43,200 KRW per share, and the expected amount to be raised is between 577.3 billion KRW and 727.1 billion KRW.

After conducting demand forecasting for institutional investors on September 27-28, the offering price will be finalized, followed by a general subscription from September 30 to October 1. The company plans to be listed on the Korea Exchange in October.

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