Naver Webtoon to List on US Nasdaq on 27th... Corporate Value Up to 3.7 Trillion Won
Webtoon Entertainment, the North American subsidiary of Naver Webtoon, will be listed on the NASDAQ in the United States on the 27th (local time).
According to the U.S. Securities and Exchange Commission (SEC) on the 21st, Webtoon Entertainment's initial public offering (IPO) is scheduled for the 27th of this month. Webtoon Entertainment has subsidiaries including Naver Webtoon, Japan's Line Digital Frontier, and Canada's Wattpad.
The proposed price range for the stock offering is $18 to $21 per share (approximately 25,000 to 29,000 KRW). Through the IPO, Webtoon Entertainment plans to issue 15 million common shares to raise up to $315 million (approximately 438.5 billion KRW). The post-IPO valuation, based on the upper price range, is estimated at $2.67 billion (approximately 3.7166 trillion KRW).
Hot Picks Today
"Samsung and Hynix Were Once for the Underachievers"... Hyundai Motor Employee's Lament
- "Sold Everything Fearing Bankruptcy, Then It Soared 3,900 Times: How a Stock Once Feared for Delisting Became an AI Powerhouse"
- Court Partially Grants Samsung Electronics' Injunction to Prohibit Industrial Action... 100 Million Won Penalty Per Day for Violations
- [US-China Summit] China to Purchase $17 Billion in US Agricultural Products Annually...Real Gains for Beijing
- "That? It's Already Stashed" Nightlife Scene Crosses the Line [ChwiYak Nation] ③
Meanwhile, Kim Jun-gu, CEO of Naver Webtoon, will receive 14,815 restricted stock units (RSUs) and a cash bonus of $30 million from Webtoon Entertainment. Kim is recognized as the leader of the webtoon business and a key figure in driving its global expansion. RSUs are an incentive system that grants shares upon achieving certain conditions such as business performance.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
