KQ Entertainment announced that it has signed a lead manager contract with Mirae Asset Securities to promote an initial public offering (IPO). Through this contract, KQ Entertainment will begin full-scale preparations for listing, and plans to begin reorganizing its internal organization and public offering procedures with the goal of listing next year.
KQ Entertainment is a comprehensive entertainment company established in 2013, and is conducting business centered on boy groups ATEEZ and Xikers targeting the global market. Both groups are showing success in overseas markets including the US and Europe, strengthening their position in the globalization of K-POP.
In particular, after entering the US Billboard main chart 'Billboard 200' in 2021, ATEEZ has consecutively topped the chart with their second full-length album in 2023 and their 11th mini-album in the same year. Psychers is also securing a global fandom by entering two albums within the top 100 of the Billboard 200 chart in their first year of debut.
In terms of performance, KQ Entertainment also showed high growth. The company recorded sales of 46.4 billion won and operating profit of 4.4 billion won in 2022, and grew to sales of 65 billion won and operating profit of 5.9 billion won in 2023. In 2024, it achieved sales of 115.8 billion won and operating profit of 12.5 billion won, showing growth of about 150% and 184% in two years, respectively. The main growth engine was overseas performance sales, which increased the proportion of total sales from 25% to 49%.
KQ Entertainment plans to expand its artist IP and strengthen its global content business through a future listing, and secure a new growth engine. CEO Kim Gyu-wook said, “Through this listing, we will further solidify KQ’s competitiveness in the global entertainment market,” and “We will thoroughly prepare to pursue a successful IPO.”
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