[Featured Stock] Daesung Changtu Hits Upper Limit on Shift Up IPO News from Portfolio Company

Shift Up Submits Securities Registration Statement... IPO in Full Swing
Virtual Asset Rebound Also a Boon for Daesung Changtu

Daesung Venture Capital recorded a daily limit up during trading hours. This appears to be influenced by the news of the initial public offering (IPO) of the game company 'Shift Up,' in which it has invested.

As of 11:57 AM on the 21st, Daesung Venture Capital is trading at 2,665 KRW, up 30% (615 KRW) from the previous day. It hit the daily limit up early in the session, then slightly declined before returning to the daily limit up. Daesung Venture Capital's 52-week high was 2,995 KRW, recorded in December last year.

After the market closed the previous day, Shift Up submitted a securities registration statement to the Financial Services Commission and officially began the process for listing on the KOSPI. Shift Up's total number of shares offered is 7.25 million, with a price range of 47,000 KRW to 60,000 KRW. Market capitalization is expected to reach up to 30 trillion KRW. Daesung Venture Capital invested in Shift Up twice, in 2018 and 2020. Since then, Shift Up has been on a winning streak, hitting a jackpot with 'Goddess of Victory: NIKKE' and moving steadily toward its IPO.

The rebound in virtual assets also seems to be influencing Daesung Venture Capital's upward trend. As expectations rise for the approval of an Ethereum spot exchange-traded fund (ETF), Bitcoin surpassed $70,000 for the first time in five weeks. Accordingly, stocks related to the virtual asset theme are also on the rise. Daesung Venture Capital, which holds shares in Dunamu, the operator of the virtual asset exchange Upbit, has historically shown sensitive reactions to the trends in virtual assets.