Webtoon Entertainment, which defines itself as the largest web comics platform in the world, will make the jump to the Nasdaq stock market this Thursday with a value of around 2,670 million dollars (2,497 million euros), after setting the price for the placement of its shares at $21 per share, the maximum expected.
Webtoon shares are expected to begin trading on the Nasdaq Global Select Market this Thursday under the symbol ‘WBTN’.
The company, controlled by the South Korean group Naver, will raise 315 million dollars (295 million euros) with the sale of 15 million shares at a price of 21 dollars per share. Additionally, Webtoon has granted subscribers a 30-day option to purchase up to an additional 2.25 million shares at the offering price.
Additionally, the company will separately issue 2,380,952 common shares to an affiliate of Naver Corporation at a per share price of $21, generating approximately $50 million (€46.7 million) of additional revenue.
Webtoon has around 170 million monthly active users in more than 150 countries around the world.
