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TENCENT HOLDINGS LIMITED

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Krafton Seeks to Raise $3.75 Billion in South Korea IPO

07/29/2021 | 05:43am EDT

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 kwanwoo.jun@wsj.com

(END) Dow Jones Newswires

07-29-21 0542ET

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Analyst Recommendations on TENCENT HOLDINGS LIMITED
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Financials
Sales 2021 579 B 89 488 M 89 488 M
Net income 2021 150 B 23 156 M 23 156 M
Net cash 2021 136 B 21 051 M 21 051 M
P/E ratio 2021 24,7x
Yield 2021 0,42%
Capitalization 3 641 B 563 B 563 B
EV / Sales 2021 6,06x
EV / Sales 2022 4,93x
Nbr of Employees 94 182
Free-Float 62,4%
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Technical analysis trends TENCENT HOLDINGS LIMITED
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Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 52
Last Close Price 382,21 CNY
Average target price 540,85 CNY
Spread / Average Target 41,5%
EPS Revisions
Managers and Directors
Hua Teng Ma Executive Chairman & Chief Executive Officer
Chi Ping Lau President & Executive Director
Shek Hon Lo Chief Financial Officer & Senior Vice President
Chen Ye Xu Chief Information Officer
Yu Xin Ren COO & President-Interactive Entertainment Group
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