Webtoon Entertainment, a subsidiary of South Korean tech giant Naver, aims to raise $315 million in an initial public offering (IPO) in the United States.
The IPO is priced at $21 per share, which would value the anime platform at nearly $2.7 billion.
At this level, the share sale is priced ‘at top end’ of its anticipated range previously pitched between $18 and $21.
Webtoon, which describes itself as a “storytech” company and is headquartered in California, has 170 million monthly active users who engage with the Japanese and Korean webcomics, novels and animations it hosts.
Blackrock is expected to cornerstone the IPO, with reports claiming it will take around $50 million worth of shares.
The IPO is being run by Goldman Sachs, Morgan Stanley (NYSE:MS), JP Morgan Securities and Evercore.