Screentime
PUBG Maker Plans to Raise $5 Billion in Landmark Korea IPO
- Krafton is selling shares between 458,000 won and 557,000 won
- Company will have to prove it’s more than a one-hit wonder
This article is for subscribers only.
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.