Source: HDQwalls, Morning Wrap
South Korea is expecting its largest go-public in history... from Krafton.
Humm… who is Krafton?
Ever played PlayerUnknowns’ Battlegrounds (PUBG)? Yea, Krafton is the developer behind it. Or maybe we may have heard of its old name “Bluehole”, or its victory slogan - Winner, winner, chicken dinner!
- If you are not gameholic: PUBG is a battle royale video game in which all players land on a remote island and beat each other. I also have that on my console. 🎮
Any other famous games? Arr… probably no. Krafton has many games, but PUBG is the only game that has paid off, with a huge hit. 💥
Since its launch in 2017, PUBG has recorded more than 1 bln mobile downloads and 25 mln sales on PC and consoles, being ranked as one of the fastest-selling games. The Chinese game giant Tencent is also a big investor into it.
- Krafton’s revenue was fueled by the pandemic, with its operating profit more than doubling last year.
How big is the IPO?
With a valuation of USD 31 bln, Krafton could raise up to USD 5 bln - a level higher than all S.Korean’s IPOs, even higher than Coupang’s US listing earlier the year. Krafton hopes to use the money to develop new games and animations surrounding PUBG.
- It will go live in late-July. Mirae, Credit Suisse, JP Morgan and Citi are among the advisors.
Korean market said “Yay!” 🥳 S.Korea is welcoming its hottest IPO year in history. Investment bankers predict that fund raising volume is likely to jump five-fold this year in Korea. LG Energy, Hyundai Industrial and Kakao are all on the list.
Just curious: will Krafton say “winner winner chicken dinner” while ringing the bell on its debut day?