Krafton Submits Securities Registration Statement... July IPO Launches in Earnest

[Asia Economy Reporter Buaeri] Krafton, the game company famous for 'Battlegrounds,' announced on the 16th that it has submitted a securities registration statement to the Financial Services Commission.

The total number of shares offered by Krafton is 10,060,230. The desired offering price per share is between 458,000 KRW and 557,000 KRW. The company stated that the offering amount of 5.6 trillion KRW is the largest ever.

The demand forecast for institutional investors will be conducted for two weeks from the 28th of this month to the 9th of next month. Based on the finalized offering price through this process, subscription for general investors will take place on the 14th and 15th of next month. The listing is scheduled for July.

The lead underwriter is Mirae Asset Securities, and the joint underwriters are Credit Suisse, NH Investment & Securities, Citigroup Global Markets Securities, and JP Morgan, with Samsung Securities participating as part of the underwriting consortium.

Krafton submitted the securities registration statement before June 20, the date when duplicate subscriptions for public offering shares are prohibited, so it is expected that duplicate subscriptions through multiple securities firms will be possible.

Meanwhile, Krafton has achieved an average annual sales growth rate of 22.1% and an operating profit growth rate of 60.5% since 2018. Last year, on a consolidated basis, sales reached 1.6704 trillion KRW, and operating profit was 773.9 billion KRW. Compared to the same period last year, sales increased by 53.6%, and operating profit increased by 115.4%. The first quarter results this year were sales of 461 billion KRW and operating profit of 227.2 billion KRW. Krafton stated, "About 94% of total sales come from overseas performance, solidifying our position as a global company."