Food delivery firm Oasis passes preliminary review for Kosdaq listing

Oasis Corp., which operates the early morning food delivery platform Oasis Market, said it passed the eligibility review for listing at the Kosdaq market in two months since it submitted an application to the Korea Exchange in September.

As the approval on listing review expires in six months, Oasis is expected to push for listing in the first half of next year, with NH Investment & Securities and Korea Investment & Securities as lead managers.

Founded in 2011 by top executives of Wooricoop, a consumer cooperative, Oasis launched an e-commerce platform Oasis Market that delivers fresh food early in the morning in 2018.

It is the only one that has enjoyed stable annual profit among major morning delivery companies, with an operating profit of 1 billion won ($793,650) in 2019, 9.7 billion won in 2020, and 5.7 billion won in 2021.

The largest shareholder is Gaeasoft, which holds a 55.17% stake, the second largest shareholder is Korea Investment Partners with a 13.32% stake, and the third largest shareholder is Unison Capital Korea with an 11.76% stake.

When E-Land Retail acquired a 3% stake for 33 billion won in June, the corporate value was appraised at 1.1 trillion won.

Write to Jeong-Cheol Bae at bjc@hankyung.com