Following SK Shielders, One Store Also Ultimately Withdraws IPO Amid Stock Market Uncertainty

[Asia Economy Reporter Lim Hye-seon] One Store, an application (app market) operator affiliated with SK Group, has decided to temporarily halt its listing process on the Korea Exchange. Due to the sluggish stock market, the company has postponed its initial public offering (IPO). SK Shielders also recently withdrew its listing.

On the 11th, One Store explained the reason for withdrawing the listing, stating, "Although we received positive evaluations of One Store's fundamentals from the majority of institutional investors during the IPO process, the prolonged listing efforts amid worsening global macroeconomic uncertainties have sharply dampened investor sentiment." They added, "Considering future market conditions, we have decided to review pursuing the listing at the optimal time when the company's value can be fully assessed. Since shares were not allocated to institutional investors who participated in the demand forecast and the subscription for general investors has not yet begun, there is no issue regarding investor protection."

Previously, One Store conducted a demand forecast targeting domestic institutional investors, but most institutions submitted bids below the lower end of the public offering price range of 34,300 KRW. One Store had planned to proceed with the subscription for general investors scheduled for the 12th and 13th by setting the public offering price approximately 20% lower than the lower end of the desired range, at 25,000 to 28,000 KRW. However, they concluded that pursuing the IPO immediately would make it difficult to receive a fair valuation.

One Store stated, "Through this IPO process, we will realize our growth potential as a content platform and leap forward as a global platform."

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