[Alpha Biz= Reporter Kim Jisun] Webtoon Entertainment, the parent company of Naver Webtoon, has begun the process for a NASDAQ listing in the United States.
According to the U.S. Securities and Exchange Commission (SEC) on June 2nd, Webtoon Entertainment submitted an initial public offering (IPO) registration statement to the SEC on May 31st (local time). The stock code for Webtoon Entertainment is 'WBTN', and the IPO is being underwritten by Goldman Sachs, Morgan Stanley, JP Morgan, and Evercore. Currently, Webtoon Entertainment's ownership is composed of Naver holding 71.2% and LY Corporation (Line Yahoo) holding 28.7%.
Webtoon Entertainment is currently available in over 150 countries and has approximately 170 million monthly active users (MAU).
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
