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South Korea’s NetMarble Games Eyes $2.4 Billion in IPO
South Korea's biggest mobile game firm, Netmarble Games Corp. said it is laying the groundwork for an IPO valued around 2.66 trillion won, making it possibly the second biggest listing in the country in history.
The game maker sees selling 17 million shares offered at 121, 000 won to 157, 000 won per piece, a filing showed on Monday. Final price of the offering will be announced on April 24. If set at the top range of the price, a successful public listing would put Netmarble's market value at almost 13.3 trillion.
Around 16.95 million new shares new shares for the IPO, representing 20 percent of the total shares upon listing. It will not be selling any existing shares via the IPO.
The Tencent-backed firm is banking on the increasing demand for games on the mobile phone platform as players continuously look for new content to play. It is the game publisher's portfolio includes Lineage 2, and the title secured over 200 billion won in sales during the first month after its release.
Netmarble's IPO would be the biggest since Samsung Life Insurance Co.'s 4.9 trillion won listing in 2010.
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