04:25 AM EDT, 06/27/2024 (MT Newswires) -- WEBTOON Entertainment said Wednesday that it priced its initial public offering of 15 million shares of common stock at $21 per share, for expected gross proceeds of about $315 million.

The company also granted the underwriters a 30-day option to buy up to an additional about 2.3 million shares of its common stock.

The shares are expected to start trading on the Nasdaq Global Select Market this Thursday under the ticker symbol "WBTN". The offering is expected to close on Friday.

The company will also separately issue about 2.4 million shares of common stock to a subsidiary of NAVER Corporation at $21 per share, for additional proceeds of $50 million.