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PUBG-maker Krafton eyes record South Korea IPO

06/16/2021 | 06:15am EDT

It's the company behind blockbuster game PlayerUnknown's Battlegrounds.

Now Krafton is aiming for a record share sale.

The South Korean firm hopes to raise up to $5 billion at its upcoming IPO.

That would be a record for the country, beating the 2010 listing of Samsung Life Insurance.

Krafton's multiplayer war-fighting game has sold 25 million copies, making it one of the fastest-selling titles since its launch in 2017.

There will be two new versions of the game this year, including one aimed at the Indian market.

Krafton is also expanding into cartoons, movies and artificial intelligence.

The company's success has won it backing from Chinese gaming and social media giant Tencent.

It owns a stake of just over 15% according to filings.

Now the timing looks good for a share sale.

Analysts say South Korea's IPO market has never been hotter.

They predict companies will raise around four times as much in 2021 as they did in 2020.

ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
SAMSUNG ELECTRONICS CO., LTD. 2.65% 81400 End-of-day quote.0.49%
SAMSUNG LIFE INSURANCE CO., LTD. 0.79% 76400 End-of-day quote.-3.41%
TENCENT HOLDINGS LIMITED -6.11% 446 End-of-day quote.-20.92%
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