Delicious, the operator of the B2B fashion platform 'Shinsang Market,' is experiencing a decline on its first day of trading on the KOSDAQ.
According to the Korea Exchange, as of 10:38 a.m. on August 12, Delicious shares are trading at 5,800 won, down 1,200 won (17.14%) from the offering price of 7,000 won. The stock opened at 6,000 won, which is 14.29% lower than the offering price, and has since widened its losses.
Previously, Delicious recorded a competition ratio of 184.06 to 1 during the demand forecasting for institutional investors held from July 23 to 29, which led to the final offering price being set at 7,000 won. The subscription ratio for general investors from August 3 to 4 was reported at 10.29 to 1.
In the previous year, Delicious reported sales of 30.667 billion won and an operating profit of 1.613 billion won. The company currently operates platform-based revenue models, including Shinsang Ad, Shinsang Membership, and Plus Membership.
The company plans to use the funds raised from this offering to enhance its platform, develop new services, expand marketing for global market penetration, and invest in fashion-related software as a service (SaaS) businesses.
Founded in 2011, Delicious is a B2B fashion platform company that launched 'Shinsang Market' in 2013, connecting offline fashion wholesalers in Dongdaemun with online transactions.
* This article has been translated by AI.
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