Naver Webtoon to Go Public on NASDAQ with a Valuation Up to 3.7 Trillion Won

Offering Price Expected Range: $18 to $21 Per Share

The corporate value of Naver Webtoon, which is planning to list on the US Nasdaq, is expected to reach up to 3.7 trillion won.

On the 17th (local time), Webtoon Entertainment, the North American subsidiary of Naver Webtoon, submitted a securities registration statement to the US Securities and Exchange Commission (SEC), proposing a price range of $18 to $21 per share for the stock offering. Through this initial public offering (IPO), Webtoon Entertainment plans to issue 15 million common shares and raise up to $315 million (approximately 430 billion won).

The post-listing corporate value, estimated by applying the upper limit of the offering price, is expected to reach $2.67 billion (approximately 3.7 trillion won). Once the listing is completed, Webtoon Entertainment will be traded on the Nasdaq market under the ticker symbol 'WBTN.'

After the listing, Naver will hold a 63.4% stake in Webtoon Entertainment, retaining the authority to appoint directors as the controlling shareholder. Another shareholder, Line Yahoo, will remain a major shareholder with a 24.7% stake. Separately, Webtoon Entertainment announced on the same day that Naver’s US subsidiary, Naver UHub, has agreed to purchase $50 million worth of Webtoon Entertainment shares.