[
THE INVESTOR] Chinese toy and game maker Hengsheng Group is to be listed on South Korea’s secondary bourse KOSDAQ on Aug. 18.
Established in 1992, it is the largest toy manufacturer in Fujian province, supplying toys to international enterprises such as Disney, Mattel and Fisher-Price. It also has been making mascots for three consecutive Olympics from 2004 to 2012.
“We will bridge the cultural industry between Korea and China, and grow into an international family entertainment company,” said its CEO Man-Kit Hui at a media conference held in Seoul on Aug. 3.
Hengsheng Toys Factory recorded a 39.2 billion won (US$35.25 million) consolidated operating profit and 201.3 billion won sales in 2015, boosted by the emphasis on developing its own brands, which accounted for 65 percent of its sales last year, he explained.
The company is expanding into intellectual property-based licensing, education and 3-D animation businesses, including investing in the sequel of South Korean animation Koreanosaurus.
Led by Shinhan Investment, a total of 20 million shares will be initially offered for public subscription and the company is expecting to raise between 68 billion won and 106 billion won.
By Hwang You-mee (
glamazon@heraldcorp.com)
