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RBW, label behind Mamamoo girl group, seeks Kosdaq listing

Mirae Asset is managing the offer of 1.253 mn shares

By Jul 13, 2021 (Gmt+09:00)

Mamamoo
Mamamoo

RBW Inc., the label behind K-pop star Mamamoo, is looking to go public after HYBE Co., the music and entertainment agency behind BTS, made a big hit from an initial public offering (IPO) last year.

RBW on July 12 filed a preliminary review to be listed on the Kosdaq. The entertainment company will be floated within this year assuming the Korea Exchange finds no reason for disqualification. Mirae Asset Securities is managing the offer of 1.253 million shares.

The agency established in 2010 has been expanding its business since 2014 when Mamamoo made their debut. It currently manages other K-pop artists including Oneus, Onewe and Vromance. In 2020, RBW logged revenue of 37.2 billion won ($32.5 million), up 33.6% from the previous year. Its operating profit jumped 48.3% to 7.6 billion won.

Mamamoo’s sustained popularity is expected to continue to boost RBW’s earnings. The company has been attracting investment from venture capital firms. KTB Network, Korea Investment Partners Co., POSCO Capital and NHN Investment Co. hold stakes in the company.

Meanwhile, there are concerns in the market about RBW’s dependence on just a few singers, similar to HYBE’s reliance on BTS.

Write to Jin-Seong Kim at jskim@hankyung.com

Jongwoo Cheon editied this article.

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