 "Krafton with estimated value of near $30 billion embarks on IPO process")
Krafton, the South Korean label behind globally-popular survival shooting game “PlayerUnknown’s Battlegrounds,” (PUBG) has embarked on the process of IPO that could bring a mega game stock with value of over 30 trillion won ($25.7 billion) to the main Korean bourse.
Krafton has invited securities companies at home and abroad to submit their IPO outline proposal by October 12, according to investment bank industry sources on Thursday.
The game developer hopes to join the Kospi next year. It took off as Bluehole in 2007. The company is best known for online multiplayer battle royale game PUBG that delivered $100 million revenue in just 13 weeks of its global release in 2017. The mega-hit game was developed by PUBG Corp., formerly Ginno Games, which Krafton took over in 2015.
Krafton could be the biggest in Korean IPO pipeline next year, with analysts projecting its value to go up at least 30 trillion won when it goes public.
The IPO has been much anticipated for a while as the company needs not only to raise funds for new game development but also to provide its investors chance to cash on the company.
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