Fashion platform Musinsa has officially begun the process for its initial public offering (IPO) by applying for a preliminary listing on the Korea Exchange.
The Korea Exchange announced on September 7 that it has received Musinsa's application for a preliminary review for listing on the securities market. The joint lead underwriters for the offering are Korea Investment & Securities and Citigroup Global Markets Securities. Musinsa aims to complete the listing process in the first half of next year.
Market analysts estimate Musinsa's corporate value to be around 8 trillion won. Internally, Musinsa has valued itself at approximately 10 trillion won, but it is expected to target a valuation of around 8 trillion won during the public offering, applying a discount rate to account for market conditions and investor protection.
Founded in June 2012, Musinsa operates as an online fashion platform, primarily engaged in online clothing sales. It runs the 'Musinsa Store' along with the women's fashion platform '29CM' and its private brand 'Musinsa Standard.'
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.
Last year, Musinsa reported standalone revenues of 1.3529 trillion won and an operating profit of 145.8 billion won. During the same period, its total assets amounted to 2.2865 trillion won, with equity capital of 243.7 billion won.
* This article has been translated by AI.
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