EntertainmentOk-pop increase drives South Korea’s leisure listings to file...

Ok-pop increase drives South Korea’s leisure listings to file excessive

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South Korea’s music businesses are dashing to go public to capitalise on rising international demand for Ok-pop that has pushed leisure sector listings within the nation to a file excessive.

Funds raised by leisure listings in Seoul this 12 months have hit a file $3.8bn, Dealogic information present, whereas shares within the nation’s main music businesses have hit all-time highs as artists resume dwell concert events and different occasions.

The worldwide recognition of Ok-pop stars together with seven-member boy band BTS and woman group Blackpink has prompted smaller businesses to flock to the market.

RBW, the music label behind woman group Mamamoo, is predicted to checklist on Monday, after elevating Won26.8bn ($22.5m) in its preliminary public providing. The IPO value was set on the prime finish of the vary, with the providing oversubscribed greater than 3,700 occasions.

“The IPO success vindicates the significance of music IPs and our firm’s development prospects,” RBW’s president Kim Jin-woo instructed the Monetary Occasions. “We are going to proceed to make main killer content material for the worldwide market.”

RBW plans to make use of the IPO proceeds to speed up its international growth by buying extra music labels and IPs and signal on extra artists throughout Asia, stated Kim.

The corporate’s itemizing comes after Ok-pop fan communication platform operator DearU went public earlier in November. DearU, backed by each SM and JYP Leisure, raised Won85.8bn in its IPO, with the itemizing attracting enormous curiosity from each institutional and retail traders.

International traders from about 20 establishments together with Singapore sovereign wealth fund GIC, JPMorgan Chase, Constancy and Allianz attended DearU’s investor relations session for the IPO.

The eye for the small South Korean firm was uncommon, with most international traders historically centered on IPOs of massive Korean conglomerates. Greater than 100 firms have raised a mixed Won20tn by means of IPOs thus far this 12 months, in keeping with Korea Trade.

“Buyers are in search of a brand new goal on this scorching sector as they’re eager to trip on the Korea wave,” stated Choi Joon-chul, chief govt of VIP Analysis and Administration in Seoul. “DearU is the perfect instance of the trade’s new enterprise mannequin, utilizing the Ok-pop fandom.”

DearU’s inventory value has risen greater than 240 per cent from its IPO value to Won89,400. The corporate runs a subscription-based messaging platform and has plans to launch a platform that might enable stars and followers to work together in digital actuality.

DearU at current operates a platform known as “DearU bubble”, by means of which Ok-pop followers can work together with their favorite stars utilizing messages, images and movies. The corporate stated the platform boasts 236 artists and greater than 800,000 subscribers.

Funding bankers anticipate extra Ok-pop-related firms to go public within the coming months following the success of Hybe, the label behind BTS, led by music IP buying and selling platform Music Cow, which is claimed to be getting ready for an IPO as early as subsequent 12 months.

“Valuations are fairly excessive, reflecting their future development potential. It stays to be seen whether or not they can dwell as much as the excessive expectations,” stated Kim Joong-kon, head of fairness capital markets at NH Securities.



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