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| A customer grabs a can of Gompyo Wheat Beer from the fridge of a convenience store. Courtesy of BGF Retail |
By Anna J. Park
Sevenbrau, a local craft beer company launched back in 2003, has been coming up with various brands of beers, including Gompyo Wheat Beer, drawing enthusiastic responses from local consumers. Based on its growing popularity, Sevenbrau is aiming to go public sometime next year. If it follows the planned timeline, Sevenbrau will be the second local craft beer maker to make its debut on the KOSDAQ market, following Jeju Beer that went public in May this year.
According to the local investment banking industry, Sevenbrau will soon select its main underwriter for the potential listing, after holding bidding presentations among local securities firms.
Sevenbrau's presence has been growing lately, as its Gompyo Wheat Beer continues to be ranked in among the top in beer sections at local convenience stores, since its launch back in May last year. Gompyo Wheat Beer once reached the top spot in the sales list at convenience store chain CU, defeating various world-famous beer brands.
The local beer industry expects Sevenbrau's operating profit could surpass 10 billion won ($8.7 million) this year. Sevenbrau's corporate value is estimated to be around 80 billion won or 90 billion won in its latest series of investments.
With its growing revenue and profitability, Sevenbrau is receiving inquiries from local institutional investors and venture capital firms. The firm received 10 billion won investment from Ulmus Investment last month, while it also plans to receive another 4 billion won in investments from Kiwoom Securities and ID Ventures. Sevenbrau plans to spend the newly raised capital in facility investment.
The local craft beer market is assessed to be around 118 billion won last year, yet the market has shown an impressive annual growth rate averaging over 40 percent per year. The market here is expected to exceed 370 billion won by 2023.
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