Toomics Denies Sale Rumors as It Seeks New Investment

By mintory

Toomics Denies Sale Rumors, Seeks Investment for Financial Restructuring

Toomics, the popular webtoon platform known for its mature content, has officially refuted recent reports suggesting that the company is up for sale. Sooseong Webtoons, the largest shareholder of Toomics Holdings, released a statement firmly denying any plans to relinquish management control.

Refuting Acquisition Claims

Earlier this month, Korean business media outlet Money Today reported that Toomics Holdings had initiated a process to sell management control through a capital increase, essentially seeking a new investor to assume majority ownership. This report fueled speculation about a potential acquisition of the webtoon platform. However, Sooseong Webtoons has clarified that these reports are inaccurate. The company stated that it has not engaged any advisory firm for a sale process and that its major shareholders have not discussed a transfer of ownership.

Pursuing New Investment

Instead of seeking a sale, Toomics Holdings is actively pursuing new outside investment to address its financial challenges. The company aims to raise approximately KRW 60–70 billion (US$45–52 million) to restructure its debt and stabilize its finances. This injection of capital would allow Toomics to refinance existing loans and reduce its interest burdens. The company emphasizes that its primary goal is financial restructuring through fresh capital, not a complete change in ownership.

Addressing Liquidity Concerns

Auditors recently raised concerns about liquidity issues at the holding-company level, which further fueled speculation about a potential acquisition. Toomics acknowledges these concerns and is taking steps to address them through its pursuit of new investment. The company believes that by securing additional funding, it can resolve its financial challenges and continue operating normally.

Continued Operations and Global Expansion

Despite the financial challenges faced by its parent company, Toomics assures its users that the platform is continuing to operate normally. Toomics has cultivated a significant global audience by focusing on premium adult webtoons and aggressively expanding into North America, Europe, and Southeast Asia. The platform remains committed to providing its users with a diverse range of content and a seamless user experience.

Financial Strain from Expansion

Toomics' parent company has been under financial strain due to years of expansion funded largely through borrowing. While the platform has experienced significant growth in recent years, this growth has come at a cost. The company is now seeking to address its debt burden and stabilize its finances through new investment.

Focus on Financial Restructuring

Toomics' denial of the sale rumors and its active pursuit of new investment indicate a clear focus on financial restructuring. The company is determined to overcome its current financial challenges and continue its operations as a leading webtoon platform. By securing fresh capital and refinancing its existing debt, Toomics aims to create a more sustainable financial foundation for the future. The company is actively working to secure its position in the market.

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