À̹ÌÁö È®´ë [Photo provided by Kakao Page Corp.]
South Korea¡¯s top mobile contents platform operator Kakao Page Corp. has selected underwriters to ready an initial public offering (IPO) in the scale of 1.5 trillion won ($1.3 billion).
Kakao Page on Wednesday picked NH Investment & Securities and KB Securities as lead advisors to underwrite its IPO, according to investment banking sources on Wednesday. Details of the IPO procedures, such as schedules and the bourse it would land, were not disclosed.
Kakao Page operates a monetized contents platform for mobile phones under Korea¡¯s mobile messenger giant Kakao Corp. The platform offers a wide range of contents from comics, novels and movies to dramas, entertainment programs and animated films as the industry¡¯s No. 1 player in the country.
Kakao Page is said to be hoping to receive a 1.5 trillion won worth valuation for its IPO, sources tipped. Market experts, however, said the company should improve its earnings more to be valued higher. Kakao Page¡¯s operating profit last year almost quadrupled to 12.6 billion won on sales of 187.5 billion won, up 37 percent from a year ago.
Kakao Page is expected to use the proceeds to create its own intellectual properties and venture into new businesses such as drama production using its own artists. Last year, it acquired Indonesia¡¯s game publishing and web comics service company Neobazar for $12.2 million with an aim to expand its webtoon platform into Indonesia and other Southeast Asian countries.
By Kang Woo-seok and Lee Ha-yeon
[¨Ï Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]