Live Company Group PLC (AIM:LVCG) said the KPop.Flex festival that is taking place in Frankfurt on 14 May this year is now profitable after ticket sales surpassed 26,000.
The company also announced that the band Enhypen will perform at the festival as the fourth act.
READ: K-Pop: Everything investors need to know
Enhypen is a seven-member band formed during the 2020 survival competition show I-Land. They have released two extended plays (EPs) four singles and one studio. The band has also won several music shows such as Show Champion and Music Bank.
Live Company reiterated that the remaining artists performing at the festival will be revealed by the end of January.
Chairman David Ciclitira said the company is actively engaged with partners for merchandising and streaming.
Shares in the company climbed 1.61% to 3.15p in early afternoon trade.