Chef made famous by Netflix show poised for $238m IPO windfall

A chef made famous by a hit Netflix show is poised to boost South Korea's struggling initial public offering (IPO) market, listing his restaurant chain in a deal that may value his stake at about US$180 million (S$238 million).

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Investment bankers in the nation are hoping the share sale this week by a restaurant franchise chain founded three decades ago by chef Paik Jong-won will lure investors looking for exposure to South Korea's food industry.

Dubbed South Korea's Gordon Ramsay, Mr Paik recently featured in Netflix's Culinary Class Wars show that topped the streaming company's global weekly TV chart for non-English titles.

At the top of the marketing range, the IPO could raise up to 84 billion won (S$80 million) and value Mr Paik's company, Theborn Korea, at as much as 405 billion won. While it is a modest deal, it offers a rare chance to bet directly on the country's culinary sector.