Representing what would be the biggest IPO seen in Japan in 2011, business daily the Nikkei reports Korean online and mobile gaming outfit Nexon is planning to list itself on the Tokyo Stock Exchange for a valuation of around $1.3 billion.
The offering has been pencilled in for December, with Nexon looking to reach a market cap of between ¥600 billion and ¥700 billion around $7.7 billion to $9 billion.
The mighty Maple
That compares favourably to previous market caps for Japanese social gaming forces GREE and DeNA, which came in at $8.3 billion and $5.4 billion respectively.
It's believed Nexon which recently moved to its new HQ in Tokyo will hand management for the IPO over to Nomura Securities, Morgan Stanley and Goldman Sachs, with the application expected to be approved this week.
Nexon employs a total of 3,000 staff across Japan, Korea, the US and Europe, and has enjoyed particular success in recent months with mobile versions of the firm's RPG franchise MapleStory.
As well as picking up the best game gong at annual Smart Content Awards 2011 in the Korean capital Seoul for Cygnus Knights Edition, October also saw the firm sign a deal with DeNA to bring the series to social gaming platform Mobage in Japan.
[source: TechCrunch]
News
With a fine eye for detail, Keith Andrew is fuelled by strong coffee, Kylie Minogue and the shapely curve of a san serif font.
Related Articles
Top Stories
News
Apr 29th, 2024
Supercell CEO Ilkka Paananen joins LEGO’s board of directors days after Squad Busters’ soft launch
Feature
Apr 29th, 2024
King’s Paula Ingvar: a games industry journey from "I’m not worthy!" to Candy Crush Soda’s VP of product
Feature
Apr 29th, 2024
Hot Five: Supercell’s Squad Busters levels up, retro Nintendo on iOS, and Genshin Impact’s worst month yet
Events
Dubai GameExpo Summit 2024 | Middle East | May 1st |
The MENA Games Industry Awards 2024 | Middle East | May 2nd |
GameDev Atlantic 2024 | May 4th | |
Mobidictum Meetup Berlin May 2024 | Europe | May 7th |
Mobidictum Meetup Tallinn May 2024 | Europe | May 21st |
Israel Mobile Summit 2024 | Middle East | Jun 6th |
WN Conference Istanbul 2024 | Jun 11th | |
DevGAMM Vilnius 2024 | Europe | Jun 14th |
Popular Stories
News
Apr 23rd, 2024
Supercell’s Squad Busters soft launches today with over 100,000 Google Play downloads
News
Apr 25th, 2024