South Korea's largest mobile gaming company Netmarble plans to raise US$2.3 billion in IPO

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Netmarble Games, South Korea's largest mobile games company, announced that it has set its IPO (initial public offering) price at 157,000 won per share, which is at the upper end of the company's previously listed offering price range. On April 21, Netmarble Games, South Korea's largest mobile games company, announced that it had set its IPO (initial public offering) price at 157,000 won per share, which is at the upper limit of the company's previously listed offering price range.

Netmarble Games, South Korea's largest mobile games company, announced that it has set its IPO (initial public offering) price at 157,000 won per share, which is at the upper end of the company's previously listed offering price range.

On April 21, Beijing time, Netmarble Games, South Korea's largest mobile game company, announced that it had set its IPO (initial public offering) price at 157,000 won per share, which is at the upper limit of the company's previously given offering price range.

Netmarble Games said in a regulatory filing last month that it would issue 17 million new shares through an IPO, with an issue price range of 121,000 won to 157,000 won per share, and a financing scale of approximately 2.05 trillion won to 2.66 trillion won.

On the 21st, Netmarble Games announced that it would set its IPO price at 157,000 won per share. In this way, Netmarble Games will raise 2.66 trillion won (approximately US$2.3 billion) through this IPO.

Bloomberg data shows that Netmarble Games 'IPO will become South Korea's largest IPO since 2010. The offering price of 157,000 won per share also values Netmarble Games at more than US$11 billion, higher than competitors such as Nexon Co.

Netmarble Games said earlier this week that the proceeds from the IPO will be used mainly for future acquisitions. Recently, there have been several large-scale M & A deals in the online game industry aimed at winning the market through consolidation. For example, a consortium of Shanghai Giant Network and Jack Ma's private equity fund announced in June last year that it would acquire Israeli mobile and social casino game developer Playtika for $4.4 billion.

Netmarble Games received investment from Tencent, which currently holds a 22% stake in Netmarble Games. Analysts say Tencent will help Netmarble Games gain more share in the China market.

Editor: Nancy