Krafton, the South Korean firm behind blockbuster online game “PlayerUnknown’s Battlegrounds”, stated on Wednesday its IPO would increase as much as SKW 5.6 trillion (roughly Rs. 36,730 crores) on the high of an indicative vary, which might be a report for the nation.
Krafton stated in a regulatory submitting it anticipated to supply 10 million shares, together with 7 million new shares and three million current shares, at an indicative vary of SKW 458,000 (roughly Rs. 30,000) – SKW 557,000 (roughly Rs. 36,500) per share.
On the top quality, this might be South Korea’s largest itemizing, beating Samsung Life Insurance coverage’s SKW 4.9 trillion (roughly Rs. 32,170 crores) IPO in 2010.
The pricing is anticipated to be determined within the coming weeks.
Krafton’s on-line multiplayer war-fighting recreation PUBG has bought 25 million copies on PC and recreation consoles, turning into one of many fastest-selling video games since its launch in 2017.
Krafton is planning to launch two new video games this yr primarily based on the PUBG mental property (IP), together with cellular recreation “PUBG: New State” and “Battlegrounds Cell India” concentrating on the Indian market.
The corporate can also be increasing to areas equivalent to web-based cartoons, motion pictures, and animation, and growing a deep studying, AI enterprise mannequin concentrating on shoppers.
It reported SKW 1.67 trillion (roughly Rs. 10,970 crores) in income in 2020, and its working revenue greater than doubled from the earlier yr to SKW 774 billion (roughly Rs. 5,080 crores).
Mirae Asset Securities is lead advisor for the IPO, whereas Credit score Suisse, NH Funding & Securities, Citigroup and JP Morgan are additionally advisors.
South Korea is experiencing its hottest IPO market on report with analysts anticipating no less than SKW 20 trillion (roughly Rs. 1,31,340 crores) to be raised in 2021, or about 4 occasions above 2020 ranges.
“This yr is unprecedented within the focus of giant new listings on the KOSPI with market capitalisations that vary from trillions of received to tens of trillions of received,” stated Choi Jong-kyung, analyst at Heungkuk Securities.
© Thomson Reuters 2021