South Korean mobile game developer Netmarble Games plans to raise around KRW 2.66 trillion (approximately Dollars 2.4 billion) in an initial public offering. The company said in a regulatory filing that it will sell 16,953,612 new shares (20 percent of total listing stocks) at a desired price band of 121,000 won and 157,000 won apiece on April. 25 and 26, which is expected to help the company raise from 2.1 trillion won to 2.7 trillion won.
Once successfully listed on the main bourse, the company will also relegate NCsoft Corp., which is now valued at 6.4 trillion won on the main bourse, to the second-most valuable game publisher. Final pricing is scheduled for April 24. Netmarble plans to use the funds generated by the IPO for new mergers and acquisitions. If the IPO is successful, the company would be valued at 13.3 trillion won ($11.6b). It made $896 million (1 trillion KRW) and $1.34 billion (1.50 trillion KRW) in 2015 and 2016 respectively and its foreign sales took up 51% of entire sales in 2016.
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Netmarble was placed on the third place in global mobile game publisher last month due to popular games such as "Lineage 2 Revolution (Revolution)', "Modoo Marble", and 'Seven Knights".
Netmarble Games is South Korea's largest mobile phone studio, and is now the ninth-largest video game publisher in the world, according to data from analytics outfit App Annie.
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Its mobile role-playing game "Lineage II: Revolution", released in Korea last December, raked in some 206 million won in the first month of its launch.
Looking to the future, most of Netmarble's recent purchases suggest the company is keen to secure a foothold in the west. The deal was purportedly closed at around $700 million to $800 million, the biggest overseas buyout for a Korean game developer.
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