[Alpha Biz=(Chicago) Reporter Kim Jisun] Naver Webtoon's parent company Webtoon Entertainment will be listed on the U.S. stock market as early as June.

According to the investment banking (IB) industry on the 20th, Webtoon Entertainment selected Goldman Sachs and Morgan Stanley as the organizers of the Initial Public Offering (IPO). The estimated corporate value is between 3 billion and 4 billion dollars (about 4 trillion and 5.33 trillion won), and it is expected to raise about 500 million dollars (about 660 billion won) through IPO.

The company has subsidiaries such as Naver Webtoon, Line Digital Frontier (Japan), and Wattpad (Canada). Naver Webtoon is known to have posted its first amortization operating profit (EBITDA) surplus last year. The largest shareholder is Naver with a 71.2% stake.

If Webtoon Entertainment succeeds in IPO, it will become the second listed company in the group after Naver. The Japanese line was listed in Japan and the United States at the same time in August 2016, but was delisted in December 2020 when it merged with Yahoo Japan's parent company Z Holdings.

 

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