Krafton Plans to Raise $5 Billion in IPO


Date: 23.06.2021

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. 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.

Krafton hired Mirae Asset Daewoo as lead arranger while Credit Suisse Group AG, Citigroup Inc., JPMorgan Chase & Co. and NH Investment & Securities are co-arrangers.

Founded by Chang Byung-gyu in 2007, Krafton -- formerly known as Bluehole Inc. -- released the battle royale game PUBG in 2017. The title has sold more than 75 million copies across PC and console platforms and its mobile version has been downloaded more than a billion times, the company said.

Based on: Bloomberg

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