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(Seoul = Yonhap News) Reporter Kwon Hye-jin = Tmon, an online shopping mall promoting IPO in the second half of this year, attracted an investment of 35 billion won.
Accordingly, after Coupang’s promotion of listing on the New York Stock Exchange (NYSE), Timon’s listing on the domestic stock market is expected to gain momentum.
Tmon announced on the 19th that the PSA Consortium, led by the PSA Alliance, a domestic private equity fund (PEF) manager, secured an investment of 255 billion won through attracting domestic institutions and foreign capital.
In addition, the existing largest shareholders, Coleberg Kravis Roberts (KKR) and Anchor Equity Partners, contributed an additional 50 billion won.
Investors participated in the capital increase by acquiring exchangeable bonds (EB). EB can be exchanged for full capital in the future, resulting in improved financial structure.
In April of last year, T-Mon selected Mirae Asset Daewoo as the organizer of the listing and entered the IPO process, but in order to list it, some capital erosion had to be resolved. Timon’s debt amounted to 658.1 billion won in 2019.
However, with this new investment, Timon can solve capital erosion and promote an IPO. It also secured financial resources for growth.
Timon explained, “The PSA consortium, foreign investors, and shareholders have participated in the investment by appreciating Timon’s competitiveness and growth potential.”
In fact, as Tmon launched’Time Commerce’, which offers special offers in seconds and minutes, the number of new subscribers increased by 47.8% compared to the previous year, and in particular, the number of joining teenagers nearly tripled.
Tmon’s premium membership’SuperSave’ members increased five times from the same period last year in the third quarter, and their purchase amount per case increased more than three times.
Lee Jin-won, CEO of Timon said, “This investment attraction will serve as an opportunity to clear up capital deficits and materialize work for a successful IPO in the second half of the year.”
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2021/02/19 17:19 sent