Shares in South Korea’s The Pinkfong Company, maker of popular children’s song “Baby Shark,” traded as high as 61,500 won per share on Tuesday after its market debut, more than 60% above its initial public offering price of 38,000 won per share.
The “Baby Shark” song has been popularised by a video uploaded to YouTube by South Korean children’s educational company Pinkfong in 2016. It has become the most-watched video on the platform.
The company priced its IPO at the top of its target range, raising 76 billion Korean won ($51.90 million).
($1 = 1,464.3400 won)
Reuters
