By Kwanwoo Jun
Krafton Inc. is seeking to raise 4.310 trillion won ($3.75 billion) via an initial public offering to be held in South Korea next month.
The South Korean game developer said in a regulatory filing Thursday that it priced 8.65 million common shares at KRW498,000 each, at the top end of its indicative range.
Krafton plans to take orders from both retail and institutional investors from Aug. 2 to Aug. 3 before seeking to list on South Korea's main stock exchange Kospi on Aug. 10.
Citigroup Global Markets, JPMorgan Securities and Mirae Asset Securities are among the lead underwriters of the offering.
The developer of the survival shooter game "PlayerUnknown's Battlegrounds" had to revise its previous listing document amid criticism from regulators that its valuation was overrated.
The Tencent Holdings-backed company reduced both the price and number of shares by 23% before finalizing them Thursday.
Write to Kwanwoo Jun at firstname.lastname@example.org
(END) Dow Jones Newswires