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Rainbowbridge World, the entertainment agency that manages the popular Kpop girl group, Mamamoo, just unveiled its plans to go public before this year ends. The company will start with South Korea’s secondary bourse first, which is the Kosdaq, and may expand further later on.
It was said that Rainbowbridge World's move was inspired by Hybe Label, the entertainment giant that is home to the most popular boy band in the world today, BTS. The company also started out at Kosdaq before making its way overseas.
The market debut to become a corporate giant
According to The Korea Herald, Mamamoo’s agency is aspiring to be like Hybe Label. Through its market debut this year, the company is hoping that it will be the first step in following BTS’ agency’s footsteps to further success.
On its road to enter the stock market, Rainbowbridge World filled out an application and already filed its papers for an initial public offering. Based on the information shared by the agency’s publicist, if the Korean Exchange officials approve the application, the firm may now join the stock market this year.
Once in the market, the starting plan is for Rainbowbridge World to issue $1.25 million shares. It was added that the company chose Mirae Asset Securities to be its main underwriter.
Moreover, it was learned that the company has been preparing for an IPO since last year. Apparently, RBW has been raising funds for some time now and using venture capital to improve its financial status.
Possible RBW investors
RBW’s plans for an IPO seem to be looking good as there are already some interested Investors. Based on the report, some of the companies that may invest in Mamamoo’s agency include Posco Capital, KTB Network, Korea Investment Partners, and NHN Investment.
Industry experts predicted that more firms may express interest as the popularity of the agency’s main group, Mamamoo, grows. When more investors come, RBW’s value will shoot up.
Finally, The Korea Economic Daily shared that Rainbowbridge World was founded in 2010 by Kim Do Hoon and Kim Jin Woo, who is also serving as the company’s co-CEOs. The company has been expanding little by little since Mamamoo debuted in 2014.
