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[Alpha Biz=(Chicago) Reporter Paul Lee] Viva Republica (hereinafter referred to as Toss), which operates the financial platform Toss, has begun full-scale work for listing. Toss is still in the red in net profit, but its corporate value is valued at between 8 trillion won and 9 trillion won.
Toss announced on the 20th that it has distributed a request for listing bidding proposal (RFP) to major domestic and foreign securities companies earlier this week. It is heard that large domestic securities companies such as Korea Investment & Securities, NH Investment & Securities, Mirae Asset Securities, KB Securities, and Samsung Securities received RFP. Founded in 2013 on a simple remittance platform, Toss currently has 17 affiliates, including Internet banks, insurance, payment services, mobility and mobile communication services.
The RFP deployment is a preliminary work for Initial Public Offerings (IPO). Toss is expected to select a listing strategy for the host company candidate through a presentation (PF) in the future and finally form a supervising team. It is expected to take about a year to form the supervising team.
The corporate value of Toss is estimated at between 8 trillion won and 9 trillion won. Last year, Toss attracted 530 billion won in new investment through the Series G round. At that time, Toss was recognized for its corporate value of 8.5 trillion won, with its corporate value of 9.1 trillion won after attracting investment. However, it is still in the red in net profit. As of the end of September this year, the cumulative net loss of Toss was 182.5 billion won.
Currently, the majority shareholder of Toss is its founder, Lee Seung-gun. As of the end of September this year, CEO Lee had a 15.57% stake in the stock. The stake including related parties is 17.10%. Other shareholders with a stake of more than 5% include Altos Ventures (8.62%) and Goodwater Capital (11.58%).
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
