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Oasis, Fresh Food dedicated eCommerce, Announces KOSDAQ Listing.

Source: Oasis

Oasis, a South Korean fresh food logistics eCommerce company, has announced its intention to list on KOSDAQ to raise capital and expand its business.

Founded in 2011, Oasis has built a reputation for providing organic food at reasonable prices through its direct sourcing network of growers. 

In 2018, the company launched “Oasis Market,” an early morning fresh food delivery platform, and has since seen significant growth in the industry.

The online food delivery market has increased since the outbreak of COVID-19. The National Bureau of Statistics estimates the size of the online grocery market in South Korea to reach KRW 70 trillion by 2025. 

As a result, Oasis saw robust growth, with sales increasing 18.5-fold from KRW 19.3 billion in 2015 to KRW 356.9 billion in 2021.

In Q3 2022, the company reported sales of KRW 311.8 billion and operating profit of KRW 7.7 billion, up 19.8% and 78.4% year-on-year, respectively.

One of the critical drivers of Oasis’ success is its intelligent logistics solution, “Oasis Route,” an independently developed mobile automation system for the overall management of product distribution and sales processes. 

This system enables efficient management of products from order to storage, packaging, sorting, shipping destination, and delivery, all from a cell phone.

Additionally, the Oasis Route is applied to a smart integrated logistics center, which creates a composite packaging circulation structure and increases work efficiency.

The company also attributes its growth to the synergy between offline stores and online malls.

Accumulating customer experience in offline stores has increased consumer brand awareness, increasing online sales. 

As a result, Oasis has been able to sell products that are traditionally difficult to sell online in its offline stores, reducing the stock discard rate to 0%, the lowest level in the industry.

In light of these successes, Oasis plans to submit a securities report to the Financial Supervisory Service and begin the process of listing on the KOSDAQ. 

The company will offer 5,236,000 shares with an offering price between KRW 30,500 and KRW 39,500 and a total volume between KRW 1.597 billion and KRW 206.8 billion. 

The listing is scheduled for February, following the demand forecast on February 7 and 8 and general subscription on February 14 and 15.

Oasis plans to grow strategically by collaborating with other companies and entering new businesses, such as PG, based on its core competencies in IT logistics solutions, logistics agency technology, and a solid direct sourcing network. 

The company also plans to offer a nationwide early morning delivery service by securing a logistics center site, converting offline stores into complete fulfillment centers, and enhancing live commerce and quick commerce services.

Overall, Oasis’ listing on KOSDAQ indicates the company’s growth and potential in the e-commerce fresh food logistics market. 

Therefore, investors will likely keep a close eye on the company’s future developments.