Actions pinkfongThe company responsible for the children’s song Baby Shark, which has become a popular phenomenon that tops views throughout the platform’s history, It rose 61.8% in its debut Tuesday on the Kosdaq online market From the South Korean Stock Exchange.
The company’s shares, which were priced at 38,000 won, are at the top of the expected range, They recorded the first crossing of 58,000 won (+52.6%) in their jump to the trading floor. They later reached an intraday maximum of 61,500 won (+61.8%), although they lost part of the initial momentum in the latter part of the session to list at 41,550 won, with a revaluation of 9.34% compared to the price set in the IPO.
Kim Min SeokPinkfong CEO announced at the ceremony preceding the opening of the stock market that the company has become Advanced technology company Which increases the chances of success of content based on data, artificial intelligence, and localization.
“We will shorten the intellectual property issuance cycle using artificial intelligence and data technology We will set a new standard for the global family content market“He added.
Pinkfong’s IPO attracted interest from a total of 2,300 institutional participantsThis resulted in a competitive ratio of 615.9 to 1, while the subscription ratio for individual investors reached a competitive ratio of 846.9 to 1.
The South Korean company plans to invest the funds it obtained in developing and Launching new intellectual property (IP); Optimize the production process; Producing high-quality animation; Expanding our global location-based entertainment (LBE) business.
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