[Asia Economy Reporter Hyungsoo Park] While the KOSDAQ index is plunging, Neptune's stock price is showing strength. The news that Krafton, the developer of the first-person shooter (FPS) game Battlegrounds, is actively pursuing an initial public offering (IPO) appears to have influenced the stock price.
As of 1:58 PM on the 24th, Neptune is trading at 12,900 KRW, up 13.16% from the previous day.
According to the investment banking (IB) industry, Krafton recently distributed a request for proposal (RFP) for underwriting to major securities firms.
Krafton recorded sales of 887.2 billion KRW and operating profit of 513.7 billion KRW in the first half of the year. The securities industry expects Krafton's valuation to rise as the stock prices of major game companies have increased due to the impact of the novel coronavirus (COVID-19). With the stock prices of large game companies listed on the domestic stock market exceeding an average price-to-earnings ratio (PER) of 30, there are expectations that Krafton's market capitalization will reach 30 trillion KRW.
According to the Financial Supervisory Service's electronic disclosure system, Neptune holds 86,666 shares (1.07%) of Krafton stock as of the end of the first half.
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