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Deepti Sri · · 1 min readReport: PUBG game maker Krafton eyes $5b IPO in Korea in July
“Krafton, the South Korean company behind the blockbuster video game PlayerUnknown’s Battlegrounds (PUBG), said on Wednesday its IPO would raise up to 5.6 trillion won (US$5 billion) at the top of an indicative range, which would be a record for the country,” Reuters reported.
Details:
- According to a regulatory filing, Krafton will offer 7 million new shares and 3 million existing ones at an indicative range of 458,000 won (US$410) to 557,000 won (US$498) per share.
- The company is expected to go public in July while the pricing of its shares will be decided in the coming weeks.
Context:
- The development comes after Krafton had reportedly applied for preliminary approval for an IPO on the Korean exchange, which could value the gaming firm at roughly 20 trillion won (US$17.92 billion).
- Krafton is also expanding to other fields such as web-based cartoons, movies and animation, and developing an AI-based business model that targets consumers.
Editing by Collin Furtado and September Grace Mahino
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