The Born Korea IPO Preview

• The Born Korea is getting ready to complete its IPO in Korea in November. The total IPO offering is expected to range from 69 billion won to 84 billion won.

• Based on the bankers' valuation, the expected market cap of the company ranges from 357 billion won to 419 billion won.

• The Born Korea was founded by Baek Jong-Won, the most famous celebrity chef in Korea.

The Born Korea is getting ready to complete its IPO in Korea in November. The IPO price range is from 23,000 won to 27,000 won and the total IPO offering is expected to range from 69 billion won to 84 billion won. The company is offering 3 million shares in this IPO. Based on the bankers' valuation, the expected market cap of the company ranges from 357 billion won to 419 billion won.

The book building for the institutional investors will last from 15 to 21 October. Korea Investment & Securities and NH Investment & Securities are the lead underwriters of this IPO.

Major Shareholders - Founder Baek Jong-Won is the largest shareholder of The Born Korea with a 76.69% stake. Kang Suk-Won, one of the members in the company's BOD, owns an 18.11% stake. Post IPO, there will be 15.5 million outstanding shares (fully diluted basis), of which 3 million is new shares for IPO and 1.0 million is for unexercised stock option related. After the IPO, founder Baek Jong-Won's stake will be reduced to 56.7%.

The Born Korea Company Background

Established in 1994, The Born Korea is one of the largest companies in Korea that operates restaurant/food and beverage franchise and food distribution businesses. The company's founder is Baek Jong-Won who is a highly popular and widely recognized figure in Korea. Baek Jong-Won has been featured in many popular food related TV shows in Korea and also has gained millions of views for his food related Youtube channels.

Baek Jong-won is a well-known celebrity chef (most famous in Korea) and restaurateur, who is highly influential in South Korean cuisine. Baek is famous for his straightforward approach to cooking and his ability to popularize accessible, comfort-style Korean food. The Born Korea's restaurant/F&B brands include Paik's Coffee, Hong Kong Banjeom 0410, Saemaul Sikdang, and Paik's Noodle, each catering to different tastes and food experiences, from coffee and light meals to full Korean dining experiences.

With its mix of dining establishments, The Born Korea has played a role in making Korean food more approachable, both domestically and internationally, by introducing unique fusion concepts and traditional recipes that appeal to a broad audience. The brand is expanding steadily, becoming one of the major players in South Korea’s restaurant industry.

In addition to popular restaurants and coffee chain (Paik's Coffee), the company is also recognized for its grocery wholesale activities, particularly in the meat product sector. It has expanded its presence across various segments, including grocery and related products.

The Born Korea (Global Restaurant Franchise Operations) (Source: Company data)

Major restaurants and food/beverage franchise brands operated by The Born Korea (Source: Company data)

Baek Jong Won - How to Make Tteokbokki PAIK JONG WON Youtube Channel (Source: Youtube)