Timon, attracts investment of 30.5 billion won… Listing in the domestic stock market is also elastic

Lee Jin-won, CEO of Timon. © News1-Tmon, an e-commerce company promoting IPO in the second half of this year (July-December), attracted an investment of 30.5 billion won. Following Coupang’s promotion of listing on the New York Stock Exchange, 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. The existing largest shareholders, Coleberg Kravis Roberts (KKR) and Anchor Equity Partners, also contributed 50 billion won.

As Tmon succeeded in attracting investment this time, the possibility of IPO within this year is also increasing. Timon, which was launched in 2010, was once called the “three social commerce company” along with Coupang and WeMef, but with a cumulative deficit, the debt reached 658.1 billion won (as of 2019), which is in a state of capital erosion.

Tmon selected Mirae Asset Daewoo as the subject of listing in April of last year and is pursuing an IPO, but in order to list it, some of the capital erosion must be resolved. Investors participated in the capital increase this time by taking over Timon’s exchangeable bonds (EB). EB can be exchanged for full capital later, which has the effect of improving the financial structure. Timon said, “With this investment attraction, we not only resolved capital erosion and promoted IPO, but also secured financial resources for growth.” Reporter Sa Jiwon [email protected]Go to reporter page>