Theborn Korea files to relaunch its IPO on Kospi

TheBorn Korea CEO Paik Jong-won. [Courtesy of The Ministry of Patriots and Veterans Affairs]

Theborn Korea Inc., a prominent dining enterprise helmed by TV celebrity and entrepreneur Paik Jong-won, has submitted a preliminary application for listing on the Kospi to the Korea Exchange.

According to the securities exchange operator on Wednesday, it has received Theborn Korea’s application. The listing is being managed by Korea Investment & Securities and NH Investment & Securities.

Considering the IPO review schedule, Theborn Korea is expected to go public in the second half of this year.

Founded in January 1994, Theborn Korea operates some 25 dining brands, including popular chains like Hong Kong Banjum, Paik’s Coffee, and Yeokjeon Udon.

Paik is the largest shareholder, holding a 76.69 percent stake in the company. The second-largest shareholder is vice president Kang Seok-won, with a 21.09 percent stake.

Theborn Korea initially aimed for a public offering in 2018, with NH Investment & Securities as the lead underwriter, but postponed the plan due to the Covid-19 pandemic.

This year, as the company celebrates its 30th anniversary, it has renewed its efforts to go public.