South Korean cloud startup MegazoneCloud Corp. He attracted JPMorgan Chase & Co. to prepare for an IPO, as a result of which the company's value may amount to several billion dollars. This is reported by foreign media.
In addition, JPMorgan Securities, Samsung Securities Co. and Korea Investment & Securities Co. are acting as key underwriters for the public market offering. Bank of America Corp., Citigroup Global Markets Korea Securities Ltd. and KB Securities Co. are also involved in developing the terms of the IPO.
South Korea has become one of the most active Asian stock markets amid government efforts to improve corporate governance. In 2024, the total value of Korean IPOs was about $1.9 billion (72% higher than in 2022).
MegazoneCloud Corp. is a South Korean technology company with headquarters in Seoul (South Korea) and offices in Palo Alto, Tokyo, Shanghai, Hong Kong and Hanoi. The company was founded in 2018 as a division of Megazone Corp. MegazoneCloud provides a wide range of consulting services and technology solutions for cloud adoption and digital business transformation based on a strong partnership with Amazon Web Services (AWS) and more than 100 global technology partners. In 2023, the startup's revenue amounted to $1.2 billion.
JPMorgan Chase & Co is an American multinational financial conglomerate and one of the largest banks in the world with headquarters in New York (USA). JPMorgan is one of the "big four" U.S. banks along with Bank of America, Citigroup and Wells Fargo. JPMorgan Chase's clients include the world's largest corporations, governments, and institutional investors. In 2023, net profit amounted to $49.55 billion, assets — $3.875 trillion, capitalization — $569 billion. The Bank was formed as a result of the merger of about a thousand financial institutions.
More news is on the Telegram channel "Mergers and Acquisitions. AK&M».
