Korea Investment & Securities Selected as Lead Underwriter for Oasis Market IPO

[Asia Economy Reporter Junho Hwang] Korea Investment & Securities was additionally selected as the lead underwriter for the initial public offering (IPO) of Oasis Market, a fresh food distribution company, on the 2nd.

Oasis Market, aiming for a successful listing, selected NH Investment & Securities as the lead underwriter in August last year, followed by bringing in Korea Investment & Securities.

Oasis Market, established by Gieosoft in 2011, is a dawn delivery company distributing fresh food both online and offline. It entered the industry in 2018 and currently holds the 3rd largest market share.

Oasis Market is the only profitable company among e-commerce firms. Operating profit has steadily increased from 300 million KRW in 2018, 1 billion KRW in 2019, to 9.7 billion KRW in 2020. Sales also recorded 111.1 billion KRW in 2018, 142.4 billion KRW in 2019, and 238.6 billion KRW in 2020.

Junhyung Ahn, President (CFO) of Oasis Market, emphasized, "We have recently completed the establishment of logistics systems in Seongnam, Uiwang, and Eonyang, completing preparations to become the undisputed No.1 e-commerce company in Korea," adding, "Through the IPO, we will solidify our position as the No.1 e-commerce company in the country."