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# Viva Republica Abandons Korea IPO for US Listing as Toss Valuation Challenges Mount
- URL: https://www.theglobalbanker.com/viva-republica-toss-abandons-korea-ipo-us-listing-valuation-challenges/
- Published: 2024-10-29T16:35:00.000Z
- Updated: 2026-10-02T13:35:07.000Z
- Description: South Korean super-app operator Viva Republica shelved its domestic IPO in favour of a US listing, reportedly judging that it would not be fairly valued in Korea given the lack of comparable listed fintech companies.
- Author: TGB Editorial Team
- Tags: Fintech, Asia-Pacific, #archive

Viva Republica, the South Korean company behind the Toss financial super-app, has shelved plans for a domestic initial public offering and is instead pursuing a listing on a United States exchange, according to reports on 29 October 2024 citing investment banking sources. 

Viva Republica's enterprise value has been estimated at 10 trillion to 20 trillion won ($7.2 billion to $14.4 billion), and the company operates across a wide range of financial services in South Korea, including banking, payments, insurance and brokerage. 

#### VALUATION CONCERNS

Toss reportedly concluded that it would not receive a fair valuation in Korea given the lack of comparable listed fintech companies. 

#### LISTING TIMELINE

No official timeline has been announced, though people familiar with the matter said the company planned to choose IPO managers by the end of 2024 for a Nasdaq or NYSE debut in the second half of 2025 or early 2026\. Viva Republica has not disclosed updated financial details.