The IPO is predicted to be one of the most important Korean listings this yr, Seoul-based analysts stated, with over-the-counter trades on Thursday valuing Krafton at round 20 trillion received ($17.92 billion).
Krafton founder Chang Byung-gyu is the most important shareholder with a 16.4% stake as of end-2020, adopted by China’s Tencent holding a 15.5% stake by means of an funding firm. Small shareholders with lower than 1% stake individually held a mixed 23.2% of Krafton, in keeping with an organization submitting.
PUBG is one of the highest-grossing video video games of all time, with as much as 55 million day by day customers excluding China on weekends and 70 million copies of the sport offered for PC and sport consoles, Krafton stated. Upcoming new cellular sport “PUBG: New State” gained greater than 5 million pre-registrations inside every week, Krafton stated in March.
Krafton reported income of 1.67 trillion received and working revenue of 774 billion received in 2020, Korea Exchange stated in a press release.
The foremost adviser for the IPO is Mirae Asset Daewoo, whereas different advisers are Credit Suisse, Citigroup Global Markets, Korea Investment & Securities, JP Morgan and NH Investment & Securities.
Robust investor demand has fuelled a flurry of sizable listings in South Korea this yr.
An IPO by vaccine developer SK Bioscience Co. Ltd final month was the most important in Seoul in almost 4 years, whereas battery element developer SK IE Technology’s deliberate IPO is predicted to be worth at the least $1.5 billion.
Reuters’ Scott Murdoch in Hong Kong contributed to this story.
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