Krafton IPO Price Set at 498,000 Won... 4.3 Trillion Won Offering Amount Ranks 2nd All-Time

[Asia Economy Reporter Seongpil Cho] Game company Krafton, which is preparing for its IPO, has set the public offering price at the upper end of the desired range (band) of 498,000 KRW.

Krafton announced the results of the institutional demand forecast, which closed on the 27th, on the 29th. Based on the public offering price, the total amount raised is 4.3098 trillion KRW. The size of the offering ranks second, following Samsung Life Insurance's 4.8881 trillion KRW in 2010, which is the largest ever. The expected market capitalization is 24.3512 trillion KRW, placing it at the top among game stocks. This exceeds the current leading game stock NCSoft's market cap of 18.4633 trillion KRW on the same day by about 32%.

Domestic and foreign institutions totaling 621 participated in the subscription of 4,759,826 shares, which is 55% of the total offering volume. The competition rate recorded was 243.15 to 1. Krafton stated, "Large domestic institutional investors and long-term investors, including overseas pension funds, participated in large numbers in the demand forecast."