The listing time may be advanced! South Korean e-commerce 11 Street has established an IPO promotion group

Ever since its old rival Coupang went public, the movements of South Korea's 11th Street have attracted much attention from the Korean e-commerce industry.

According to the Korean industry on the 25th, 11 Street has established an "IPO promotion team" within the company. The newly established IPO promotion team will be responsible for all matters required for listing, including formulating listing strategies, preparing listing conditions in advance, external corporate briefings (IR) activities, and public recruitment procedures.

In order to cooperate with the listing strategy of its parent company SK Telecom 's subsidiary, South Korean e-commerce platform 11 Street has begun some practical work such as improving necessary conditions and rectifying them .

An 11th Street official said, “Since the beginning of this year, as the parent company’s control structure was restructured and the listing strategy was visualized, a team dedicated to a smooth listing was formed.”

Recently, as SK Telecom officially announced its plan to transform into an intermediate holding company, the listing speed of its subsidiaries has accelerated to a certain extent as part of improving the corporate value of non-telecom subsidiaries. According to the current listing schedule of One Store and ADT Caps, it is expected that the listing schedule of 11th Street will also be accelerated.

SK Telecom holds 80.3% of 11 Street's shares. Due to the listing of Coupang, the value of the Korean e-commerce market has been highly evaluated, so it is inevitable that 11 Street's listing time will be advanced. However, the development speed of 11 Street is the fundamental factor in determining when to go public. Therefore, in order to improve the competitiveness of the platform, the parent company SK Telecom will definitely continue to provide full support.

In addition to the support from rivals such as Coupang and its parent company, 11th Street's business cooperation with Amazon has further enhanced the value of its own platform.

Last year, 11th Street reached a strategic alliance with Amazon and signed a company participation agreement. Currently, the cooperation with Amazon has entered the final preparations . Depending on the business performance in the Korean market (such as 11th Street's IPO), Amazon can obtain the right to subscribe for new shares if certain conditions are met.

Currently, 11th Street is preparing for the cooperation with Amazon in July and is working to establish a global cooperation operation organization internally and to secure relevant manpower. In addition to product planners (MDs) who are responsible for attracting and promoting Amazon's special products , they are also working to introduce information technology (IT) planners.

11th Street is not only collaborating with Amazon, but also has the potential to acquire and merge (M&A) on its own. The buyer of W Concept, which was recently hotly discussed in the Korean industry , was also mentioned. In order to differentiate its platform, it is expected that 11th Street will also actively acquire promising vertical e-commerce platforms such as fashion .

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