 |
Photo courtesy of Yonhap News |
[Alpha Biz= Kim Jisun] EcoPro Group is in discussions with its financial investors (FIs) to postpone the planned IPO of EcoPro Innovation to after 2026, aiming to improve the company’s valuation before returning to the market.
On the 26th, EcoPro Group confirmed that it is negotiating a listing obligation waiver with participating FIs to adjust the IPO schedule, which had originally been targeted for the first half of next year.
EcoPro Innovation raised KRW 400 billion in 2023 from a consortium of private equity firms—including Premier Partners, IMM Investment, Eum Private Equity, and NH PE–Woori PE Asset Management—at a valuation of KRW 3 trillion.
However, due to the downturn in the battery sector and weakening financial performance, EcoPro Innovation’s current valuation is estimated to have fallen below KRW 3 trillion. The company posted KRW 127 billion in revenue and an operating loss of KRW 154.5 billion last year.
EcoPro Group’s strategy is to avoid a forced listing at an unfavorable valuation and instead rebuild corporate value before pursuing an IPO. The waiver process is expected to proceed smoothly. One industry official noted, “Listing at a depressed valuation could significantly damage the interests of existing shareholders.”
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
