Sae-A's owner family hit by scrapped Tailim Paper IPO

• Published date: 11 May 2022
• Publication title: The Korea Times

By Park Jae-hyukTailim Paper decided to drop its plan to be listed on the benchmark KOSPI market, Wednesday, after the nation's leading corrugated cardboard manufacturer failed to attract institutional investors in a two-day demand forecasting session held earlier this week.Global Sae-A Group, the largest shareholder of Sae-A Trading which wholly owns Tailim Paper is said to have refused to cut Tailim Paper's valuation below the range of 615.9 billion won ($483 million) to 713.1 billion won as it initially proposed, given that Sae-A Trading had acquired Tailim Paper and its subsidiary, Tailim Packaging, for 730 billion won from IMM Private Equity in 2019."We will consider resuming attempts for an initial public offering (IPO), depending on the market conditions," a Tailim Paper official said.

However, it is unclear whether Tailim Paper will be able to go public in the near future, considering the fact that Hyundai Engineering, Daemyoung Energy, Voronoi and SK shieldus have...