Baby Shark creator Pinkfong Co. jumped as much as 62% in its trading debut as investors snapped up the studio behind YouTube’s most-viewed jingle, following strong demand for the small initial public offering.

The stock jumped to a high of 61,500 won in early trading Tuesday before closing at 41,550 won, giving the company a market value of 596.3 billion won ($406 million).

Riding on the success of “Baby Shark,” which has been viewed more than 16 billion times, the company is going public to expand beyond toddlers’ screens and prove it can be a full-fledged media studio capable of producing the next breakout hit. The debut also comes as Korean entertainment grows in popularity worldwide, thanks to K-pop bands such as BlackPink and BTS.

Though the IPO only raised 76 billion won ($53 mill

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