Naver-Backed Webtoon Likely to Price IPO at Top of Range
- Online comics firm sold shares at $21 each, top of range
- South Korean format is cultural export alongside K-pop, drama
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Online comics company Webtoon Entertainment Inc. priced shares in its US initial public offering at the top of a marketed range to raise $315 million.
The company, backed by South Korea-based Naver Corp., sold 15 million shares after marketing them for $18 to $21, according to terms of the deal confirming an earlier report by Bloomberg News.