South Korea's Market Kurly seeks IPO in 2021

The company is still mulling a NYSE debut, which will require the firm more analysis.

South Korean e-commerce grocer Market Kurly has expressed plans to go public within 2021 and is currently exploring whether to make its stock market debut at home or in the United States, Yonhap reported.

Market Kurly spokesperson Song Cheol-wook said the United States is not a fixed destination as debuting on the New York Stock Exchange (NYSE) would require much more analysis considering the company’s size compared with Coupang.

The company’s annual transactions are estimated at about $880m (KRW1t) in 2020, compared with Coupang's $17.64b (KRW20t).

Coupang made a splash in its landmark debut on the New York Stock Exchange, and its value stood at around $88.65b after its first closing at $49.25.

An IPO had been consistently ruled out from Market Kurly's management options until the company's chief Sophie Kim disclosed her plan during a senior executive meeting. She was cited to say "we could lag behind in the market if we fail to go public within this year, since the local e-commerce market is reshuffled in favor of the big players."

"Market Kurly executives want to complete the IPO process within 2021, considering the unusually ample liquidity in the stock markets and the company's narrowing earnings deficit," the' spokesperson said.