KK Group's application for listing material has once again become "invalid", the response is that it is a normal mechanism and the IPO is still progressing.

Recently, the latest information on the Hong Kong Stock Exchange website shows that KK Group's application for listing materials has once again changed to "invalid", resulting in the current prospectus cannot be viewed or downloaded normally. This is already the fourth prospectus submitted by KK Group.

In response to this situation, KK Group's relevant personnel responded that the prospectus was shown to be invalid 6 months after submission, which is a normal mechanism in the process of listing in Hong Kong and only requires updating financial data. At the same time, the company emphasized that the overall business is in good condition and the business is steadily developing, and the IPO process is still progressing normally.

Although it is not uncommon for prospectuses to become invalid among companies applying for listing, and there are also cases of successful listing after submitting the prospectus for the second time, the temporary suspension of KK Group's IPO process undoubtedly dealt a certain blow to its confidence in going public.

According to the disclosure on the website of the Hong Kong Stock Exchange, KK Group has submitted prospectuses to the Hong Kong Stock Exchange four times on November 4, 2021, January 20, 2023, July 31, 2023 and January 31, 2024.

Public information shows that KK Group was established in 2015. As a lifestyle consumer trend retailer, it has four retail chain brands, KKV, colorist, X11, and KK Museum, which are self-incubated. The product portfolio covers a wide range of categories such as beauty, trendy toys, and food.