KKCompany Technologies to list on Taiwan OTC market at 32 TWD

KKCompany Technologies, the parent company of KKBOX, is set to list on Taiwan’s Over-the-Counter (OTC) market on August 31. Following a failed attempt to go public two years ago with a much higher valuation, the company has accepted a significantly lower underwriting price of 32 TWD per share.

Since its previous IPO attempt, the company has restructured its business model through the integration of PressPlay. The group now focuses on four core pillars: music services, AI multimedia technology, knowledge learning, and the creator economy. This restructuring aims to leverage a combined user base of over 30 million members, including 5 million active paying users.

Chairman and CEO Wang Xian-tang stated that the decision to move to the OTC market first, following advice from Fubon Securities, is intended to allow investors more time to understand the company’s evolving business and value. The company maintains a strong presence in the Japanese market, providing enterprise-level streaming technology to telecommunications and media firms.