Webtoon Entertainment, a subsidiary of Naver, has embarked on a plan to introduce its IP subsidiary to Nasdaq stock market. It is expected to commence trading within this year.
The report specifies that Naver Webtoon has engaged Goldman Sachs and Morgan Stanley as agents to underwrite the distribution since the beginning of the year.
The volume of content trading on the Webtoon platform in the past year increased by 9.3%, reaching 4.44 trillion won, or approximately 1.2 trillion baht. The estimated business value for the company to enter the US stock market is around 3-4 billion dollars.
Source: The Korea Times
TLDR: Webtoon Entertainment, a Naver subsidiary, is set to enter the Nasdaq stock market with the help of Goldman Sachs and Morgan Stanley, following a significant increase in content trading volume on the platform.
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