Krafton, the developer of PlayerUnknown's Battlegrounds, popularly known as PUBG, will raise 4.3 trillion won ($3.7 billion) in its IPO (Initial Public Offering). The South Korean game developer's shares were priced at 4,98,000 won, the company said in a regulatory filing on Thursday, July 29.
According to reports, Krafton IPO will list on the local bourse on August 10. It is expected to be one of the biggest debuts on the Korea Stock Exchange (KSE). Currently, Samsung Life Insurance holds the record for its stupendous 4.89 trillion won IPO in 2010.
The PUBG maker had earlier planned to raise 5.6 trillion won. However, it reduced it to 4.3 trillion won after regulators demanded to fix the valuation. The company also reduced the number of shares for the offer to 8.7 million from 10.1 million.
"We revised the registration document, adding detailed information. Krafton will continue to make efforts and innovations to be born again as the best entertainment company based on our success story in the global market," Krafton had said in a statement.
Krafton IPO: Everything you should know about PUBG maker
- Krafton is expected to debut on the local bourse on August 10.
- Krafton Share Price: Each share is priced at 498,000 won.
- Krafton Share Price: The Ballegrounds Mobile India developer had set a price range of 400,000-498,000
- Since its launch in 2017, the game maker has sold more than 75 million copies of PUBG for consoles and PCs.
- The mobile version of PUG has crossed 1 billion downloads globally.
- After the IPO, Krafton founder Chang Byung-gyu will be the largest stakeholder in the company with a 14.4% stake, followed by Tencent Holdings's subsidiary Image Frame Investment with 13.6%.
- Chang played a significant role in Krafton's success by launching games such as PUBG and Tera.
- The Korean firm plans to merge and acquire promising gamer developers with the IPO funds.
- Krafton to launch "PUBG: New State" and horror game "Callisto Protocol' in future.
- The game developer is expanding its market in India.
- Within a week after its release, the Battlegrounds Mobile India game developed by Krafton specifically for the Indian audience surpassed 34 million registered users.
- It also kicked off the esports tournament Battlegrounds Mobile India Series 2021 from July 19 with total price money of Rs 1 crore.