The Pinkfong Company, a preschool content corporations known for the YouTube children's song that begins with "Baby shark doo doo doo," succeeded in its public subscription for retail investors.
The Pinkfong Company said on the 11th that it recorded a competition rate of 846.9 to 1 in its public offering subscription for retail investors held on the 6th–7th. The subscription deposit accordingly totaled 8.04 trillion won.
Earlier, The Pinkfong Company recorded a competition rate of 615.9 to 1 in the book-building for domestic and overseas institutional investors conducted from on the 28th to on the 3rd. The final offer price was set at 38,000 won, the top end of the indicated range. The expected market capitalization after listing is 545.3 billion won.
Founded in 2010, The Pinkfong Company holds a global intellectual property (IP) portfolio including "Pinkfong," "Baby Shark," "Hogi," "Bebefinn," and "Zillup." It has produced more than 7,000 pieces of content in 25 languages and services them in 244 countries worldwide.
In particular, the flagship content "Baby Shark Dance" has ranked No. 1 in global YouTube views for 60 consecutive months, and the total across all YouTube channels surpassed 280 million subscribers and 190 billion views.
In the first half of this year on a consolidation basis, The Pinkfong Company posted a 76% share of overseas sales, 68% from content sales, and an operating margin of about 20%. Revenue and operating profit were 45.2 billion won and 9 billion won, respectively.
The company plans to invest the funds raised in ▲ new IP development and launches ▲ upgrading the production process ▲ premium animation ▲ expansion of the global location-based entertainment (LBE) business.
The Pinkfong Company is scheduled to list on the KOSDAQ market on the 18th. The lead managers are Mirae Asset Securities and Samsung Securities.