We reported in January that South Korean video game developer Krafton was planning to go public in mid-2021. The PUBG maker now has applied for preliminary approval for an initial public opening, Korea Exchange recently announced.
As reported by Reuters, a Seoul-based analyst said the initial public offering is expected to be one of Korean’s biggest listings this year, valuing the company at a valuation of 20 trillion won, which equals to $17.92 billion.
By the end of 2020, the founder Chang Byung-gyu is the largest shareholder in Krafron with a 16.4% stake, while Tencent holds 15.5% and small shareholders hold 23.2% in total.
PUBG Mobile is currently one of the highest-grossing video games globally with more than 55 million daily users out of China on weekends, and the game sold over 70 million copies for PC and consoles, said the company.
Also Read: PUBG Mobile and Revenue Statistics
Meanwhile, its upcoming title PUBG: New State has surpassed 5 million pre-registrations in just a week.
Last year, the company reported a 1.67 trillion won in revenue and 774 billion won in operating profit, Korea Exchange wrote in a statement.
While Mirae Asset Daewoo is the main adviser for Krafton’s initial public offering, other advisers include Credit Suisse, Citigroup Global Markets, Korea Investment & Securities, JP Morgan and NH Investment & Securities.