PlayerUnknown’s Battlegrounds creator files for R69 billion IPO
Krafton Inc., the company behind hit mobile game PlayerUnknown’s Battlegrounds, filed to raise as much as 5.6 trillion won ($5 billion) in a South Korean initial public offering that’s likely to be the country’s largest ever.
The gaming company will sell more than 10 million shares at 458,000 won to 557,000 won apiece, Pangyo-based Krafton said in a filing Wednesday. The top of the range exceeded general market expectations and would grant Krafton a market capitalization of 28 trillion won, based on the number of common shares. Krafton plans to finalize the price July 9 and list on July 22.
Krafton is seeking to smash the record for the biggest debut among South Korean companies, previously held by Coupang Inc., which raised $4.6 billion in an IPO on the New York Stock Exchange in March. The largest listing on domestic exchanges had been Samsung Life Insurance Co.’s $4.3 billion share sale in 2010. Riding a boom in retail trading, Asia’s fourth largest economy is on track for a record year of floats, with more deals from the likes of LG Energy Solution and Kakao’s affiliates likely to come in the second half.
Krafton Inc., the company behind hit mobile game PlayerUnknown’s Battlegrounds, filed to raise as much as 5.6 trillion won ($5 billion) in a South Korean initial public offering that’s likely to be the country’s largest ever.
The gaming company will sell more than 10 million shares at 458,000 won to 557,000 won apiece, Pangyo-based Krafton said in a filing Wednesday. The top of the range exceeded general market expectations and would grant Krafton a market capitalization of 28 trillion won, based on the number of common shares. Krafton plans to finalize the price July 9 and list on July 22.
Krafton is seeking to smash the record for the biggest debut among South Korean companies, previously held by Coupang Inc., which raised $4.6 billion in an IPO on the New York Stock Exchange in March. The largest listing on domestic exchanges had been Samsung Life Insurance Co.’s $4.3 billion share sale in 2010. Riding a boom in retail trading, Asia’s fourth largest economy is on track for a record year of floats, with more deals from the likes of LG Energy Solution and Kakao’s affiliates likely to come in the second half.
