The Pinkfong Company, the content corporations best known for the children's song "Baby Shark," is launching the process for a KOSDAQ listing and public offering.
According to the financial investment industry on the 22nd, The Pinkfong Company submitted a securities registration statement to the Financial Supervisory Service that day for an initial public offering (IPO). It came three days after receiving approval for preliminary listing review from the Korea Exchange on the 19th.
The company will issue a total of 2 million shares, all as new shares, in this listing. It presented a desired offering price range (band) of 32,000 to 38,000 won. Based on the top end of the band, the offering amount is estimated at 76 billion won, and the market capitalization after listing is estimated at 545.3 billion won.
The Pinkfong Company develops a variety of content businesses—animation, music, performances, and games—based on its own character intellectual property (IP), including the popular character Baby Shark (Shark Family), as well as Pinkfong and Bebefinn.
The company showed growth in 2020, when Baby Shark gained worldwide popularity and operating profit surpassed 20 billion won, but results were reported to have somewhat declined thereafter. Operating profit in 2023 fell short of 4 billion won and came to 18.8 billion won last year.
Although a corporations value of over 1 trillion won had previously been mentioned, the listing valuation has also been cut to about half that level. It aims to begin bookbuilding next month and list on the KOSDAQ market in Nov. Mirae Asset Securities and Samsung Securities are the joint lead managers.