Korean e-commerce startup Oasis will start the process of listing on the KOSDAQ in earnest. The fresh food delivery service company announced that it would submit a securities report to the Financial Supervisory Service and begin the process of listing on the KOSDAQ.

Oasis will offer 5,236,000 shares through this listing. The public offering price is between 30,500 and 39,500 won, and the total offering amount is between 1,597 and 206.8 billion won. It plans to enter the KOSDAQ market in February after conducting demand forecasting on February 7-8 and going through general subscription on February 14-15. NH Investment & Securities and Korea Investment & Securities co-hosted the event.

Established in 2011, Oasis started with offline stores, and in 2018, it launched ‘Oasis Market’ and expanded its business scope to early morning delivery of fresh foods. Oasis maintains a higher-than-average sales growth rate and surplus management despite not conducting extensive corporate advertising marketing. 

Oasis, which has been operating in the black since its establishment, has grown by about 18.5 times from 19.3 billion won in 2015 to 356.9 billion won in 2021. In the third quarter of 2022, 311.8 billion won in sales and 7.7 billion won in operating profit, up 19.8% each from the same period last year and increased by 78.4%.

The company started its own smart logistics solution Oasis Route that maximizes work efficiency and online/offline synergy as factors for its sustainable growth. The Oasis Route, which increases work efficiency, is applied to a smart integrated logistics center with a combined packaging circulation structure and creates synergy. 

Joon-Hyung Ahn, CEO of Oasis, said, “Oasis is a leading early morning delivery company for groceries with a network, logistics center, and IT logistics solutions. We will expand our business area and leap forward as a smart logistics/distribution tech company representing Korea.”

Also Read,

• Market Kurly scraps plan to launch IPO in 2023 amidst economic slowdown
• Korean government launches 100 billion won fund to support food tech startups
• Seoul Robotics aims for an IPO in 2025, post-Series B funding of $ 25 million
• Korean startups to showcase technological proficiency at CES 2023 from January 5 to 8 in Las Vegas 

What’s your thoughts?

+1

0

Upvote

+1

0

Clap

+1

0

Clap

+1

0

On fire

+1

0

Meh

+1

0

Clap

+1

0