Brief: Carsales.Com Says Encar Lodges Eligibility Review Application With Korean Stock Exchange

CAR

27/09/2023 07:42

Sept 27 (Reuters) - Carsales.Com Ltd  CAR.AX :
    * ENCAR LODGES ELIGIBILITY REVIEW APPLICATION (ERA) WITH
KOREAN
STOCK EXCHANGE (KRX)
    * LODGED AN ELIGIBILITY REVIEW APPLICATION WITH KOREA
EXCHANGE
    * APPLICATION AS FIRST STEP IN EXPLORING POSSIBILITY OF
CONDUCTING
AN INITIAL PUBLIC OFFERING OF ENCAR ON KRX
    * AN ELIGIBILITY REVIEW APPLICATION LODGED BY ENCARSALES.COM
LTD
    * HAS NOT MADE ANY DECISIONS REGARDING IPO OF ENCAR
    * CARSALES EXPECTS TO EVALUATE MERITS OF AN IPO OVER COURSE
OF
YEAR
    * WILL ONLY PURSUE AN IPO IF IT IS IN BEST INTERESTS OF
SHAREHOLDERS
    * IF IPO PROCEED CARSALES WILL RETAIN SIGNIFICANT
CONTROLLING
STAKE OF APPROXIMATELY 90%

Source text for Eikon:  ID:nASX9MwY6R 
Further company coverage:  CAR.AX 

 ((Reuters.Briefs@thomsonreuters.com;))