I-Scream Media IPO Preview

• I-Scream Media is getting ready to complete its IPO on KOSDAQ exchange in August. The IPO price range is from 32,000 won to 40,200 won.

• I-Scream Media is one of the the leading digital education platform companies in Korea. Its I-Scream S platform is used by more than 93% of elementary school classrooms in Korea.

• Post IPO, Sigong Tech will have a 23.7% stake in I-Scream Media. Sigong Tech's stake in I-Scream media (at high end of IPO value) is 157% of its market cap.

I-Scream Media is getting ready to complete its IPO on KOSDAQ exchange in August. I-Scream Media is a leading educational content-based edutech company in Korea focused on elementary students.

I-Scream Media plans to raise a total of 2.46 million shares (new shares) in this IPO. The IPO price range is from 32,000 won to 40,200 won. This IPO is expected to raise between 78.7 billion won to 98.9 billion won. At the bankers' valuations, it would suggest implied market cap of 438 billion won to 550 billion won. The book building for the institutional investors will be from 31 July to 6 August. The lead banker on this deal is Samsung Securities.

Source: Company data

Company Background

Established in 2002, I-Scream Media is one of the the leading digital education platform companies in Korea. Its I-Scream S is a digital education platform used by more than 93% of elementary school classrooms in Korea.

Based on its experience in operating I-Scream S (digital class support platform that elementary school teachers can use during class), the company also entered the elementary school textbook publishing business. The company also provides I-Scream mall which is an online shopping mall for teaching aids and teaching materials, and the I-Scream Training Center, a distance education training center.

The company has developed and provided more than 160 digital tools and software products. It currently has an an archive of approximately 6.5 million digital multimedia educational contents. The company has differentiated itself from other education/online education companies by forming a huge ecosystem spanning many aspects of digital education.

• Textbook business - The I-Scream textbooks, which is well-connected with a number of digital educational contents within Ice Cream S, has recorded the highest adoption rate among all 13 textbook publishers since 2022, when it began publishing. I-Scream Textook achieved number one market share in the first year of launch, Teacher Online Training Center ranked number one in market share for teachers education products.