Millie's Seoje, Withdrawal of KOSDAQ Listing

[Asia Economy Reporter Hyungsoo Park] Millie's Library, the largest reading platform in Korea, announced on the 8th that it has submitted a withdrawal notification to the Financial Supervisory Service and will withdraw its listing on the KOSDAQ market.

A representative of Millie's Library stated, "The recent uncertainty in the macroeconomy and interest rate hikes have led to a contraction in the initial public offering (IPO) market, which is also affecting investments in platform companies. Considering the current financial market situation, it is difficult for Millie's Library's corporate value to be properly evaluated."

He added, "In this situation, we judged that there is no need to push for the listing recklessly and decided to withdraw the listing."

Seo Young-taek, CEO of Millie's Library, said, "One of the major achievements during the IPO process was receiving positive evaluations of Millie's Library's fundamentals from the majority of institutional investors," and added, "Millie's Library will continue to discover and secure original content and strengthen its core competitiveness to grow as the only unique reading platform company in Korea."

Millie's Library plans to review the timing when it can receive a proper evaluation of its corporate value, considering future market conditions.

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