Internet popular song "Baby Shark" creator company Pinkfong soared 62% on its first day of listing in Seoul.

The creation company of the internet-famous song "Baby Shark," Pinkfong Co., saw a 62% surge on its first day of trading after going public. The relatively small company's initial public offering attracted strong demand. The stock soared to a high of 61,500 Korean won in early trading on Tuesday. Despite raising only 76 billion won in funds through the IPO, the issue price was set at 38,000 won per share, at the higher end of the price range announced earlier. According to the announcement, as the production company of the most viewed song on YouTube, Pinkfong's IPO was very popular, with investors subscribing for over 600 times the amount of shares available. With the huge success of "Baby Shark," which has been viewed over 16 billion times, the company successfully went public with plans to expand beyond its children's brand image and prove its ability to become a mature media studio capable of creating the next hit work.