Nov 18, 2025
The Pinkfong Company Delivers Strong KOSDAQ IPO Debut
The Pinkfong Company, our portfolio creator of Baby Shark, delivered one of South Korea’s strongest IPO performances of the year, with shares jumping as much as 62% in their KOSDAQ trading debut. The stock opened at 58,000 won, 52.6% higher than its IPO price of 38,000 won.
The company raised 76 billion won ($53 million), pricing at the top of its marketed range.
Institutional demand reached a 615.9-to-1 competition ratio, with retail subscriptions at 846.9-to-1 and approximately 8 trillion won in deposits. The strong debut values Pinkfong at 596.3 billion won ($406 million). The company generated approximately $67 million in annual revenue in 2024, with Baby Shark accounting for a quarter of earnings; other franchises have grown rapidly and contribute around 40% of revenue. Pinkfong operates with 340 employees across offices in Tokyo, Shanghai, and Los Angeles, and was selected by the Korean government to lead the 2025 K-CONTENT AI Innovation Project, an R&D initiative linking AI, immersive media, and storytelling to strengthen Korea’s cultural technology exports. The IPO proceeds will fund expansion of film projects and character franchises, international expansion, new IP development, and location-based entertainment ventures.
We’re thrilled to see Pinkfong public, and we look forward to the next chapter of the company’s global content build.