Hanryu Bank, a Korean cultural wave platform company, is taking action to list its shares on the US NASDAQ. The company is the first Korean startup to knock on the door of NASDAQ.
Hanryu Bank announced on November 22 that it had recently selected Aegis Capital Corp. as the main manager of its IPO. The company has been subject to an accounting audit with a view to listing.
Founded in 1984, Aegis Capital Corp. is a US-based asset management and financial services firm providing financial, strategic advice and related services to individuals, public organizations and private businesses.
Hanryu Bank plans to officially submit the listing documents to the United States Securities and Exchange Commission (SEC) in November. It will also host its first face-to-face road show since the COVID-19 epidemic in the United States.
Previously, KPMG conducted an audit of Hanryu Bank and released an Equity Value Report on September 28, estimating the company’s value at $ 460 million. In addition, Hanryu Bank received consultations from the Disclosure Law Group, a law firm that also reviewed Hanryu Bank’s documents related to the listing.
Hallyu Bank was created to further disseminate the Korean wave. In particular, he has launched businesses by combining finance, media, AI, and blockchain with the Korean wave, which is all about entertainment. Its core businesses include FANTOO, a Korean wave-based fandom network service, FANDOMCHAIN, a blockchain backbone, and ERP services that are the foundation of IB’s business.
Hallyu Bank plans to invest in strengthening Hallyu global platforms and developing digital innovation technologies, including artificial intelligence (AI) and blockchain.
It also plans to actively promote content companies and support the production of cultural content.