Toss Operator Viva Republica Plans IPO on US Stock Market

[Image source=Yonhap News]

Viva Republica, the operator of Toss, is understood to have halted its preparations for listing on the domestic stock market and is instead pursuing an IPO (Initial Public Offering) on the U.S. stock market.

A Viva Republica official stated on the 29th, "We are actively considering proceeding with the IPO process in the U.S. stock market before Korea," adding, "However, specific plans such as the timing have not been decided yet."

It is reported that Viva Republica recently informed its IPO underwriters of its intention to suspend the domestic listing process. Earlier in February, Toss had selected Korea Investment & Securities and Mirae Asset Securities as the lead underwriters for the IPO, with Samsung Securities as a joint underwriter.

The reason Viva Republica has turned its attention to the U.S. stock market is believed to be due to the difficulty in having its business value, including growth potential, properly recognized domestically. Meanwhile, K-Bank, an internet-only bank scheduled to list on the KOSPI, recently postponed its IPO plans to next year.