(Seoul=NSP News Agency) hYUNJIN KIM Journalist = Korean book subscription platform Millie’s Library (CEO Seo Youngtaek) filed a preliminary review for KOSDAQ listing to the Korea Exchange as a Tesla Requirement last May 27.
The company plans to complete the IPO with the lead manager Mirae Asset Securities within this year.
Raised funds from the listing will be used to increase the number of original content and expand investment for content in various aspects.
Established in 2017 with the groundbreaking e-book monthly subscription services in Korea, Milli’s Library has become the largest e-book platform in Korea, having 110,000 content and 1400 contract publishers as of May.
Last September, it was acquired by Genie Music under the KT group and collaborated at all-around aspects with various companies within the group that are components of the KT media value chain.
The company recorded 28.9 billion won in sales, 14.5 billion won in operating loss, and 34.8 billion won in current year’s net loss, which is 60. 7 percent, 32.5 percent, 213.2 percent up in sales, net loss, and current year’s net loss, respectively.
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