In today’s briefing:
- Ain Shifts Focus with FrancFranc Acquisition
- Webtoon Entertainment: A Weakening USD Will Give A Lift To 3Q Earnings, Founder Picked Up 42K Shares
Ain Shifts Focus with FrancFranc Acquisition
- Ain is best known for running prescription pharmacies but also has a lifestyle-oriented cosmetics chain called Ainz & Tulpe.
- Without this, the acquisition of FrancFranc would look odd, but the merger of the two will create genuine synergies and a lifestyle business targeting women in their 20s and 30s.
- The move makes sense given the pressure on margins in drug dispensing, Ain’s main business.
Webtoon Entertainment: A Weakening USD Will Give A Lift To 3Q Earnings, Founder Picked Up 42K Shares
- Webtoon Entertainment, a Korean the world’s largest digital comics platform, has successfully completed IPO and private placement in June.
- The NAVER-backed storytelling platform has raised ~$359M and priced its IPO and concurrent private placement at $21.00 per share, at the top end of price range.
- However, Webtoon Entertainment shares significantly underperformed with shares down ~48% below IPO offer price.
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