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Shinsegae’s E-Commerce Arm SSG.com Plots IPO

Shinsegae department store. Shutterstock.
Shinsegae department store. Shutterstock.

The online marketplace owned by South Korean retail group Shinsegae is preparing for a listing on its local stock market, The Korea Times reports.

SSG.com has kicked off the process by requesting local firms submit bids to act as its lead manager for the IPO. The company didn’t disclose the date of the listing but if things go smoothly, it could make its debut in 2022, with the proceeds going towards its logistics and tech infrastructure.

Experts said SSG’s plan to list has likely been influenced by rival firms’ IPOs, like Coupang’s US listing in March. The group could also be looking to raise funds after spending around 4 trillion won ($3.4 billion) in M&A this year, including subsidiary EMart’s acquisition of eBay Korea for 3.4 trillion won ($2.9 billion).

Learn more:

A Guide to South Korea’s Booming E-Commerce Market

The pandemic set off an online shopping frenzy in what was already one of the world’s most digitally savvy countries. Here’s what brands need to know.

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The State of Fashion: Technology
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The State of Fashion: Technology