Fashion platform Musinsa has filed for a preliminary review to list on the KOSPI, marking the start of its initial public offering (IPO) process.
On September 7, Musinsa announced that it submitted its application for the preliminary review to the Korea Exchange.
Musinsa stated, "The purpose of this preliminary review is to assess the feasibility of the listing as a funding option for growth into a global company. We plan to evaluate whether we meet the listing requirements and the benefits of going public through this review."
The number of shares expected to be listed is 227,829,016, with 26.6 million shares planned for public offering. The par value per share is 100 won.
As of the application date, Musinsa's shares are held by CEO Jo Man-ho and 26 others, who collectively own 54.2% of the company.
The Korea Exchange is required to review the eligibility for listing and notify the applicant of its decision to approve, defer, or reject the application within 60 days (45 trading days) from the filing date.
Founded in June 2012, Musinsa reported a consolidated revenue of 821.7 billion won in the first half of this year, a 22.5% increase compared to the same period last year, marking its highest revenue for the first half. However, its operating profit decreased by 11.2% to 52.3 billion won.
* This article has been translated by AI.
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