Korean online and mobile games company Nexon has fixed the price of its Japanese IPO at $1.2 billion (¥91 billion).
This follows on from the firm's predictions in November, which were initially set at $1.3 million (¥100 million).
Despite admitting that it has had to settle for a slightly lower evaluation, its IPO is the largest in Japan during 2011. The offering was several times oversubscribed.
HackStory
Share in the company will be sold at $16.68 (¥1,300) when it hits the Tokyo Stock exchange on December 14.
This values the company at $7.2 billion (¥560 billion), although it's only selling a fraction of its shares - hence the $1.2 billion listing.
It is thought that the recent cyber attack on its online game MapleStory may have been a cause of Nexon's lowering of the float price.
"There has been increasing caution among investors, which is why it did not come in at the top of the 1,200-1,400 yen range," said Takashi Matsumoto, a director at Okasan Securities.
[source: Bloomberg]
News
When Matt was 7 years old he didn't write to Santa like the other little boys and girls. He wrote to Mario. When the rotund plumber replied, Matt's dedication to a life of gaming was established. Like an otaku David Carradine, he wandered the planet until becoming a writer at Pocket Gamer.
Related Articles
Feature
May 17th, 2024
New release roundup: The best new mobile games from a battle royale to a console classic remake
Top Stories
News
6 hours, 41 minutes ago
Will your players earn you the Pocket Gamer People's Choice Award 2024?
News
9 hours, 9 minutes ago
NetEase’s Once Human opens up mobile pre-registrations after 13 million on PC
Feature
8 hours, 8 minutes ago
Case study: How Supercent’s games made it to the top in a stagnating hypercasual market
Feature
10 hours, 6 minutes ago
“There has been an increase in funding opportunities for African developers with more exciting times to come"
Events
Nordic Game Spring 2024 | Nordic | May 21st |
Impact 2024 - Indie Games | May 23rd | |
Morocco Gaming Expo | Africa | May 24th |
MomoCon 2024 | North America | May 24th |
For The Win 2024 | Europe | May 29th |
Unreal Fest Gold Coast 2024 | Australasia | May 29th |
Indie Craft K-Game Festival 2024 | Europe | May 31st |
GDCy Fest 2024 | May 31st |