International Courant
Webtoon Leisure has priced its preliminary public providing (IPO) on the high of its acknowledged vary, in a bid to boost about $315 million, the net comics platform mentioned Wednesday.
SeongJoon Cho | Bloomberg | Getty Photos
Webtoon leisure has priced its preliminary public providing (IPO) on the high of its acknowledged vary, searching for to boost about $315 million, the net comics platform mentioned Wednesday.
The corporate is majority owned by the South Korean know-how large Naverpriced its 15 million shares at $21 every, and had marketed a spread of $18 to $21.
The IPO now values the Los Angeles, California-based firm at $2.67 billion.
Goldman Sachs, Morgan Stanley, JP Morgan Securities and Evercore Group are the lead underwriters for the IPO.
Webtoon was based in 2005 as a facet challenge of CEO Junkoo Kim whereas he was working as a search engineer at Naver.
The corporate, whose roots are in Korea, is a storytelling platform with 1000’s of titles throughout a number of genres, together with fantasy, motion, romance and horror.
Webtoon has roughly 170 million month-to-month energetic customers in additional than 150 international locations world wide.
The corporate’s choices embrace Japanese internet comics and manga app Line Manga, internet novel platform Wattpad and Korean internet comics providing Naver Webtoon.
Sure funds and accounts are managed by the most important asset supervisor on this planet Black rock had indicated an curiosity in buying as much as $50 million value of shares bought within the providing.
As well as, Naver’s US subsidiary, Naver U.Hub, had agreed to buy $50 million value of Webtoon shares in a simultaneous non-public placement.
Shares of Webtoon are anticipated to start buying and selling on the Nasdaq International Choose Market on June 27 below the image “WBTN.”
