Webtoon Entertainmentthe largest web comics platform in the world, will begin trading on the Nasdaq this Thursday with an approximate valuation of 2,670 million dollars (2,497 million euros at the current exchange rate).
The company, owned by the South Korean group Naver, plans to raise $315 million (295 million euros) through the sale of 15 million shares at a price of $21 per share (the maximum expected in the initial range). Additionally, the underwriters have been granted a 30-day option to purchase up to an additional 2.25 million shares at the offering price, less underwriting discounts and commissions.
The shares will begin trading on the Nasdaq Global Select Market this June 27, 2024 under the symbol “WBTN” and the offering is expected to close on June 28, 2024, subject to customary closing conditions.
Additionally, the issuance of 2,380,952 common shares is planned to a subsidiary of Naver Corporation at a price per share of $21, which will generate around $50 million (€46.7 million) in additional income for the company. .
Webtoon has around 170 million monthly active users distributed in more than 150 countries around the world. This global reach is a testament to the appeal and popularity of the platform, which offers a wide variety of web comics to entertain its diverse audience.
