Oasis Withdraws KOSDAQ Listing... "Difficult to Receive Appropriate Valuation"

Re-promotion Considering the Timing of Market Stabilization

Oasis announced on the 13th through a public notice that it has submitted a withdrawal report to the Financial Supervisory Service and will withdraw its listing on KOSDAQ.

Oasis explained that the initial public offering (IPO) market has contracted due to worsening domestic and international economic conditions, which has had a very negative impact on investor sentiment, and considering the current market situation, it is difficult to receive a proper valuation of the company's worth.

A company representative stated, “As the only profitable company in the industry and having already secured resources for sustainable growth, we judged that there is no need to push for listing recklessly and decided to withdraw the listing. We place great significance on the fact that Oasis's essence and innovative logistics system have been thoroughly introduced to the market during this listing process.”

Oasis plans to maintain profitability and achieve external growth, then consider relaunching the listing at a time when it can receive an appropriate corporate valuation.

Junhyung Ahn, CEO of Oasis, said, “We sincerely thank the many investors who have shown interest in Oasis. Receiving positive evaluations on fundamentals such as Oasis’s differentiated competitiveness and growth strategy during this IPO process is a great achievement,” and emphasized, “Based on innovative logistics technology, we will continue to grow as a leading e-commerce company that leads the popularization of organic food by supplying high-quality organic products to consumers at reasonable prices.”