“Guardian: The Lonely and Great God”
Studio Dragon Corp., producing unit of South Korea’s CJ E&M Corp. and creator of blockbuster TV drama “Guardian” starring Gong Yoo, will go public on the Korean secondary Kosdaq market on Nov. 24.
The initial price offering will be decided after book-building session ends Friday. It could raise up to 210 billion won ($188 million) if IPO is set at the top end of its desired pricing band of 30,900 won to 35,000 won. Public bidders are invited for subscription on Nov. 16-17.
The company’s market value could be from 850 billion won to 1 trillion won depending on the response.
“Misaeng - Incomplete Life”
The studio was separated from CJ E&M last year. It produced one hit after another - “Misaeng - Incomplete Life” and “Guardian: The Lonely and Great God”.
The company posted an operating profit of 16.6 billion won last year on revenue of 154.4 billion won. Its operating profit from January to June rose to 22.9 billion won on sales of 137.4 billion won.
The company plans to use the proceeds to go global, according to its CEO Choe Jin-hee.
By Shin Heon-cheol and Lee Ha-yeon
[ⓒ Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]