Korea Business News Agency - NSP NEWS AGENCY.

(Seoul=NSP NEWS AGENCY) = Toss operator Viva Republica Inc. has selected the underwriters for the initial public offering(IPO). While the industry is expecting a listing as early as next year due to global market uncertainty, some are cautiously predicting that a listing may not happen within two years due to Toss’ valuation, which has been suggested to be up to $20 trillion.

On the 2nd, a Toss official said, “Korea Investment & Securities and Mirae Asset Securities were selected as lead underwriters for the Viva Republica Inc. IPO, and Samsung Securities was selected as a co-underwriter.”

For Toss, securities firms are known to have written a corporate value of KRW 15 to 20 trillion on a pre-discount basis. If Toss succeeds in its IPO, Toss will debut as Decacon. Decacon refers to an unlisted company with a corporate value of more than KRW 10 trillion .

The reason for this high rating, despite the fact that Toss has never been profitable in its annual results, is due to the growth of its affiliates and the growth of its advertising business. Toss Bank, an affiliate of Toss, achieved a net profit of KRW 8.6 billion in the third quarter of last year. It has been two years since its launch. Toss Securities also recorded a surplus of KRW 3.5 billion.

A Toss official said, “The selection of the underwriters is the initial stage where we receive advice from a group of experts for the first time,” and added, “We plan to determine the optimal listing timing by considering the capital market situation.”

The industry expects Toss to be listed as early as next year. First of all, it was judged that it is difficult to list within the year because investment sentiment has shrunk due to the poor global economic situation.

By Soon-ki Lee(s8789@nspna.com) and Soo-in Kang(sink606@nspna.com)

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