Webtoon Entertainment prices IPO at top of range to raise $315 million, valued at $2.67 billion

From Investing.com: 2024-06-26 20:21:07

Webtoon Entertainment priced its IPO at the top of the range, aiming to raise $315 million. Majority-owned by Naver, the company valued at $2.67 billion. Lead underwriters include Goldman Sachs and Morgan Stanley. CEO Junkoo Kim founded Webtoon in 2005, offering thousands of titles across genres to over 170 million monthly users worldwide.

BlackRock expressed interest in purchasing $50 million shares in the offering. Naver’s U.S. subsidiary agreed to a concurrent private placement of $50 million worth of shares. Webtoon’s shares will trade on Nasdaq under the symbol “WBTN” starting June 27.



Read more at Investing.com: Webtoon Entertainment prices US IPO at top of range to raise about $315 million By Reuters