[Alpha Biz= Reporter Kim Minyoung] Naver Webtoon, which is pursuing a listing on the New York Stock Exchange, is projected to have a post-listing corporate value approaching 4 trillion KRW (approximately 3 billion USD).
Webtoon Entertainment, the parent company of Naver Webtoon and its North American subsidiary, submitted a securities registration statement to the U.S. Securities and Exchange Commission (SEC) on the 17th (local time). In the filing, it set the target price range for its public offering at $18 to $21 per share.
Through this initial public offering (IPO), Webtoon Entertainment plans to issue 15 million common shares, raising up to $315 million (approximately 430 billion KRW).
Based on the upper end of the target price range, the post-IPO corporate value is expected to reach $2.67 billion (approximately 3.7 trillion KRW).
Once the listing is complete, Webtoon Entertainment will trade on the Nasdaq market under the ticker symbol "WBTN."
Even after the listing, Naver will retain a 63.4% stake in Webtoon Entertainment, maintaining its status as the controlling shareholder with the authority to appoint directors.
Another significant shareholder, Line Yahoo (LY Corporation), will continue to hold a substantial 24.7% stake in the company.
Alphabiz Kim Minyoung (kimmy@alphabiz.co.kr)
