April 26, 2024

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Its drama production subsidiary has turned in a registration statement for an IPO, noted analyst Park Jeong-yeop. Studio Dragon’s annual revenue is estimated to be 250.2 billion won with operating profit 33.8 billion won, and total market value based on the offer price is slightly less than one-third of its parent company, according to the analyst. 

This is similar to that of Naver and Line, and with that as a reference, the parent company’s stock price remains closely linked with the value of the stake for approximately 200 days before and after the IPO of its key subsidiary, stressed Park. 

CJ E&M’s third-quarter revenue on a consolidated basis will reach 417.0 billion won with operating profit of 18.3 billion won, up 10.1 percent and 499.4 percent on-year, respectively, estimated the analyst, adding that the fourth quarter is a high season for advertising industry. 

By Hwang You-mee (glamazon@heraldcorp.com)