South Korea IPO Market Sees Sono International File for KOSPI Debut as H2 Candidates Emerge

According to The Fact, South Korea's initial public offering market showed signs of revival in early July as Sono International filed for listing on the KOSPI on June 26, with several other major candidates standing by. H1 IPO activity slowed significantly, with only 17 new listings excluding SPAC mergers and transfers on both KOSPI and KOSDAQ combined, down 55% from 38 debuts in the same period last year. KOSPI saw just one major listing—K-Bank—while KOSDAQ declined to 16 new listings from 34 last year. Sono International, valued at approximately 3 trillion Korean won, filed with Mirae Asset Securities and Daishin Securities as lead underwriters. Other H2 candidates include Musinsa, valued around 10 trillion won; Gudai Global; and Upstage, which aims for a post-listing valuation of 3.5 to 5 trillion won.
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