CarrieSoft to be listed on Kosdaq this month

CarrieSoft announced Tuesday that it plans to get listed on South Korea’s secondary bourse Kosdaq on Aug. 23.

The firm first began with the YouTube channel “Carrie and Toys” in 2014 and exclusively produces kids’ contents. It is home to the iconic character “Carrie,” who reviews popular toys and goods. The character has evolved and now has own branded products. 

Last year, CarrieSoft’s sales reached 10 billion won ($8.25 million) with an operating loss of 400 million won.

According to the company, it will go public under the “special listing on promising business model” -- a procedure granted by the bourse operator to companies that currently are not profitable but have technological capabilities and growth potential. Language data platform startup Flitto was the first to get listed under such a listing rule.

The total number of shares on offer is set at 1.18 million, with a price band of between 12,900 won and 16,100 won, the company said.

It will begin receiving applications from individual investors starting Aug. 12 or 13.

CarrieSoft co-founder and CEO Park Chang-shin said that the company plans to use the proceeds from the initial public offering to further expand its business, touting itself as Asia’s Disney.

By Cho Hyee-su (chohyeesu@heraldcorp.com)