SSG.com Officially Begins IPO Process... Mirae Asset Securities Selected as Lead Underwriter
[Asia Economy Reporter Lim Chunhan] SSG.com announced on the 27th that it has selected Mirae Asset Securities and Citigroup Global Markets Securities as lead underwriters and will officially begin the initial public offering (IPO) process targeting next year. Foreign investment banks Morgan Stanley and JPMorgan Chase will participate as joint lead underwriters.
SSG.com stated, "As of the end of last year, we recorded a total capital of 1.4 trillion KRW," adding, "This differentiates us from competitors who are mostly in a state of capital erosion and record losses of several hundred billion KRW annually, in terms of meeting the domestic market listing requirements."
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SSG.com plans to focus investments on logistics infrastructure and IT using the funds secured through the domestic listing and will strive to build a complete online-offline commerce ecosystem.
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