Netmarble Games Wants To Raise Up to 2.7 Trillion Won with IPO

South Korea's top mobile game developer named Netmarble Games, which wants to raise up to 2.7 trillion in an initial public offering. More details are available in the following contents. BTW, we can also offer you professional app store seo guides and aso services.

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 Apr. 25 and 26, which is expected to help the company raise from 2.1 trillion won to 2.7 trillion won. Final pricing will be determined after its book-building session planned from Apr. 11 to 20.

Netmarble, which has developed or produced hits such as Lineage 2 Revolution and games involving Marvel and Star Wars characters, said its revenue was 1.5 trillion won in 2016, having grown more than fivefold in two years, according to the filing. Once successfully listed on the main bourse, the company will also relegate NCsoft Corp., which is currently valued at 6.4 trillion won on the main bourse, to the second-most valuable game publisher.

Netmarble rode on the mobile game boom with blockbuster titles such as Lineage 2: Revolution, Everybody's Marble, Seven Nights and Marvel Future Fight. The company reported 295.4 billion won in operating profit on revenue of 1.5 trillion won last year, surpassing 1 trillion won in annual revenue for the second time since 2015. Revenue from overseas significantly rose to 51 percent of its total revenue in 2016 from 28 percent in 2015 and 17 percent in 2014.

The Seoul-based firm said the roughly two trillion won it raises will go towards paying down debt, plus seeding future transactions or investments, according to the filing. Netmarble, like Tencent, has used overseas acquisitions to fuel growth, closing a deal last month for Kabam's Vancouver studio.

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