According to the latest news, South Korea’s JTBC Studios Co. (JTBC Studios Co.) said on the 29th that the company will raise funds by issuing convertible preferred shares to China’s Tencent Holdings and South Korean private equity firm Praxis Capital Partners (hereinafter referred to as Praxis). A total of 400 billion won (approximately RMB 2.4 billion) of funds.
Praxis will invest approximately 300 billion won (approximately 1.8 billion yuan) to acquire 21.8% of the shares and become the second-largest shareholder of JTBC production company. Tencent will inject 100 billion won (approximately 600 million yuan) to hold 7.2% of its shares. The South Korean production company plans to use the funds to expand its cultural and creative content and streaming services.
It is reported that after this investment, the corporate value of JTBC production company is approximately 137 billion won. In 2019, the company’s revenue was 188.9 billion won and operating profit was 14 billion won.
JTBC production company has achieved good results in content production this year. It has produced some dramas with high ratings on Netflix. TV series “Itaewon Class” and so on.
(Source)
