The largest South Korean mobile gaming company will enter the stock market. Netmarble expects to get up to 2.7 trillion won ($2.4 billion) as part of the initial public offering.
To receive this amount, Netmarble plans to issue 16.95 million new shares. This is 20% of the total number of shares. The existing shares will not go on sale today.
Part of the amount from their sale – $1.3 billion – will be used for further acquisitions of the company. Recall that in December Netmarble acquired Kabam Vancouver, the authors of the mobile fighting game Marvel: Contest of Champions, for $ 800 million.
Netmarble is now at the peak of success. In December, the company published Lineage 2: Revolution, which earned $180 million in the first month of sales exclusively in South Korea.
Sources: Reuters, Pocket Gamer, Games Industry