April 25, 2024
Stocks & Bonds
Towel market leader readies for IPO
[THE INVESTOR] Songwol Towel, the market leader in South Korea, is preparing to get listed on the KOSDAQ market, a local daily reported on March 16.
Local daily Asia Business Daily reported that the towel maker has signed on Korea Investment and Securities and Samsung Securities to oversee the initial public offering.
Founded in 1949, Songwol is one of the country’s largest towel makers with operations in Vietnam. The company also acquired an aircraft materials maker in 2015 as part of its expansion plans.
Songwol Towel’s sales came to 88 billion won (US$77.82 million), while operating and net profits were 16.63 billion won and 15.46 billion won, respectively, in 2015
By Choi He-suk (cheesuk@heraldcorp.com)
Local daily Asia Business Daily reported that the towel maker has signed on Korea Investment and Securities and Samsung Securities to oversee the initial public offering.
Founded in 1949, Songwol is one of the country’s largest towel makers with operations in Vietnam. The company also acquired an aircraft materials maker in 2015 as part of its expansion plans.
Songwol Towel’s sales came to 88 billion won (US$77.82 million), while operating and net profits were 16.63 billion won and 15.46 billion won, respectively, in 2015
By Choi He-suk (cheesuk@heraldcorp.com)
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