Reported 7 months ago
KKBOX's parent company, KKCompany Technologies (KKT-KY), held a press conference announcing the halt of their planned listing on the Taiwan Stock Exchange due to the lead underwriting broker claiming insufficient demand as a reason for not submitting the final documents. Despite KKBOX's strong shareholder base including Japanese KDDI, Singapore's GIC, Chunghwa Telecom, Taiwan Mobile, and Trend Micro, the underwriter's reluctance has led to the failure of the company to go public as scheduled. KKT-KY expressed disappointment and hinted at potential legal action, while also planning to continue developing in music streaming, AI multimedia technology, and cloud services and exploring options for overseas listing.
Source: YAHOO