Shift Up Studio plans to sell their shares at the top end of its set price range during the IPO, sources tell Reuters. They expect to raise 435 billion won ($313 million) from investors after going public.
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In the IPO filing, the studio wrote that it plans to sell 7.25 million shares during the initial offering. If Reuters' information is correct, the studio will ask for approximately 60,000 won ($43.3) per share.
Reuters journalists calculated that in this case, after going public, Shift Up's market value will reach 3.5 trillion won ($2.52 billion).
The IPO is expected to take place in July, but the exact date is unknown. Previously, Shift Up had to postpone it because Korean regulators asked the studio to update its filing and provide more details about potential risks for investors. They were concerned that at the beginning of the year, almost 98% of Shift Up’s revenue came from a single game—Goddess of Victory: Nikke.