Tencent-backed PUBG developer to launch Korean IPO
Image of PUBG developer Krafton from the company's website

South Korea's Krafton (formerly Bluehole Studio), the developer of popular video game Playerunknown's Battlegrounds (PUBG), is expected to hit the Korea Exchange (KRX) in mid- to late-June, and raise $5 billion in its IPO.

According to the KRX on Friday, Krafton's IPO plan has received preliminary approval.

Krafton plans to sell 20% of its shares in the IPO, raising at least $5 billion. On that basis, Krafton's total market capitalization will reach $25 billion, with Tencent as the second largest shareholder with a 10% stake, according to Reuters

If Krafton can successfully be listed, its IPO could become the largest one in South Korea since Samsung Life Insurance Co., Ltd. went public in 2010.

You must be login to post a comment.