Increased KRW 255 billion through PSA consortium, domestic institutions, and foreign capital attraction, and invested 50 billion KRW to existing shareholders
In the News Reporter Nam Gung-gyeongㅣTime Commerce T-Mon (CEO Jin-won Lee) finishes the equity investment before listing, and is going to go public within this year.
On the 19th, Timon announced that it has completed a capital increase of 30.5 billion won through the investment in listed battery shares, which has been promoted since the second half of last year. The PSA Consortium secured an investment of 255 billion won through domestic institutions and foreign capital attraction, and the existing largest shareholders, Coleberg Kravis Roberts (KKR) and Anchor Equity Partners, also contributed 50 billion won.
Investors participated in the increase by acquiring exchangeable bonds (EBs). Exchange bonds are recognized as capital, which greatly improves Timon’s financial structure. Tmon plans to initiate an IPO in earnest with Mirae Asset Daewoo, the host company, as the investment attraction has been successfully completed.
Timon explained, “The PSA consortium, foreign investors, and shareholders highly valued Timon’s competitiveness and growth potential and participated in the investment.”
In fact, as Tmon launched’Time Commerce’, which offers special products in units of seconds and minutes, a green light was turned on in various customer indicators as well as strengthening service competitiveness. Last year, the number of new subscribers increased by 47.8% compared to the previous year, and the number of joining teenagers, one of the future growth engines, nearly tripled.
Tmon’s premium membership’SuperSave’ members increased five times and 5.5 times the same period last year in the third quarter, and their purchase amount per case also increased more than three times.
Lee Jin-won, CEO of Timon said, “We were able to successfully complete the investment attraction in recognition of Timon’s competitiveness and future growth potential. It will be an opportunity to clear up capital deficits and materialize for a successful IPO in the second half.