CJ Corporation (CJ Group) said that CJ E&M Corporation (KOSDAQ:A130960) has filed an application with the Korea Exchange to take Studio Dragon Corporation, public on the tech-heavy KOSDAQ market. CJ Group has been rushing to take its unlisted units public to raise much-needed funds to finance its growing overseas ventures in food, logistics, biopharmaceuticals and cultural content. CJ E&M owns a 90.76% stake in Studio Dragon and expects the shares will be floated on the bourse as early as October.

Company officials expect the initial public offering (IPO) could raise about KRW 600 billion.