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Photo courtesy of Yonhap News |
[Alpha Biz= Paul Lee] Viva Republica, the operator of the fintech platform Toss, has begun preliminary steps toward a potential listing on the South Korean stock market.
According to the ICT industry on March 5, the company recently inquired with the Financial Supervisory Service (FSS) about guidelines for preparing a domestic listing, including procedures for applying for and assigning a designated external auditor.
Applying for a designated auditor is a process in which companies preparing for an initial public offering (IPO) undergo pre-listing financial audits conducted by accounting firms appointed by financial authorities.
A Viva Republica official said, “We are reviewing various scenarios for a successful listing, but we cannot confirm specific plans at this stage.”
The company had previously been widely reported to be preparing for a U.S. listing.
Viva Republica has reportedly begun preliminary consultations with the U.S. Securities and Exchange Commission (SEC) regarding a potential listing on a U.S. exchange, with market speculation suggesting the IPO could take place as early as this year.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
