Krafton Inc., the game maker behind hit mobile game "PlayerUnknown's Battlegrounds" (PUBG), is aiming to raise $5 billion in a record-breaking South Korean IPO.
To achieve this, Reuters reports that the company is planning to offer 10 million shares priced at 458,000-557,000 won per share or $417-$498 per share (1 won = $0.00089). Prices will be finalized by July.
Krafton Seeking to Break Records
According to Bloomberg, Krafton is "seeking to smash the record for the biggest debut among South Korean companies." The previous record-holder is e-commerce company Coupang, which raised $4.6 billion in an IPO on the New York Stock Exchange last March.
Domestically, the record was previously held by South Korea's largest insurance company, Samsung Life Insurance, after raising $4.3 billion in 2010.
Read Also: Buying Life Insurance Online: A Quick Guide
A Background on Krafton Inc.
Founded in 2007 by Chang Byung-gyu, Krafton Inc. was formerly known as Bluehole Inc. According to the company website, the name Krafton was derived from "Keep the craftsmanship on," which illustrates their determination to create high quality gaming experiences for their users.
Krafton Inc. currently has five subsidiaries: Bluehole, Striking Distance Studios, RisingWings, DreaMotion, and PUBG. Bluehole Studios focuses on the massively multiplayer online role-playing game (MMORPG) genre with titles such as "Tera" and "Elyon - Ascent: Infinite Realm."
Striking Distance Studios has yet to release a game, but has a story-driven survival horror game called "The Callisto Protocol" in the works. The game's development team is led by "Call of Duty" veteran Glen Schofield.
RisingWings is the subsidiary that focuses on mobile gaming that can be enjoyed by people of all ages. Games under RisingWings include "Golf King: World Tour," "Mini Golf King," "Bowling King," and "Archery King."
The fourth subsidiary, DreaMotion, focuses on core fun and aims to someday create games with emotional appeal. Titles under DreaMotion include "Ronin: The Last Samurai," "Road to Valor: World War II," and "Gun Strider."
Last and certainly not the least, gaming fans all over the world have the PUBG Studios to thank for PlayerUnknown's Battlegrounds.
The Success of PUBG
PlayerUnknown's Battlegrounds, otherwise known as PUBG, is the title that will undoubtedly lead the way for the Krafton IPO to raise its targeted $5 billion. Per Bloomberg, the game has sold more than 75 million copies and has been downloaded more than a billion times.
Released in 2017, PUBG is an online multiplayer battle royal game. Players are pitted against each other and up to 100 players play in a battle royal where players compete to be the last player standing.
The game is playable on the following platforms: Microsoft Windows, Xbox One, PlayStation 4, Stadia, and Android and iOS for mobile.
According to the company website, it also has more than 3.25 million concurrent users on PC as well as seven Guinness World Records.
Related Article: Battle Royale Game PUBG Rumored to Have an Upcoming Sequel
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Written by Isabella James