South Korean publisher Netmarble has conducted an initial public offering (IPO). The company’s market capitalization was $12.2 billion.
The publisher went public on May 12.
By the close of the first day of trading, Netmarble shares had risen by 9.2% compared to the initial offer at the start of sales.
According to Bloomberg, thanks to its entry into the stock exchange, Netmarble has entered the top five largest gaming companies in the world. It is ahead of such giants as Sony, Activision, Nintendo and Electronic Arts.
Earlier it was reported that Netmarble plans to spend $ 4.4 billion to acquire studios and franchises after entering the stock market.
Netmarble’s latest purchase was Vancouver Studio from Kabam publishing label. Netmarble bought it in December 2016.
The amount of the transaction was not disclosed, but it is known that Kabam was offered at least $800 million for Vancouver Studio.