Market Kurly operator postpones planned IPO

The company plans to push through with public listing ‘at an optimal moment.’

The operator behind South Korean e-grocery platform Market Kurly will postpone the initial public offering (IPO) originally planned for early this year, citing contracting investor confidence caused by harsh market conditions, Yonhap reported.

Kurly Corp said it will resume its planned IPO with the Korea Exchange (KRX) “at an optimal moment when the company can be fully valuated for its worth.”

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Kurly received preliminary approval for its public listing in August last year.

The company originally sought to complete its public listing in the second half of 2022, but the review process had been delayed amid worries over its "unstable" ownership structure in which its founder has a small stake, along with continuing losses from its business.