'Baby Shark' creator's shares skyrocket on debut after investors oversubscribe IPO by 600x
Shares of Pinkfong, the studio behind YouTube's most-viewed jingle 'Baby Shark' which has 16 billion views, skyrocketed by 62% on their trading debut in South Korea. The company's IPO raised ₩76 billion (about ₹500 crore) while the IPO price was set at ₩38,000 (about ₹3,000). Investors had offered to buy 600 times the number of shares the company offered.