Скачать или смотреть S. Korean game developer Krafton struggles on KOSPI market debut

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Going public today was the country's biggest game developer, Krafton, maker of the hit game PlayerUnknown's Battlegrounds.
But day one was a disappointment for investors, shares closing about 10 percent off the IPO price.
Bae Eun-ji helps us look beyond the digits.
On Tuesday... South Korea's biggest game developer Krafton... the firm behind the global hit 'PlayerUnknown's Battlegrounds'... struggled on its market debut on the benchmark KOSPI.
Last week... the company's IPO price was set at around 498-thousand Korean won.
But on the first day of trading... the stock opened at 448-thousand-500 won, or 390 U.S. dollars... which is around 10 percent lower than its IPO price.
There were ups and downs during the day... but in the end, it closed at 454-thousand won, or about 395 dollars.

"Usually, on the first day of trading... stock trades at a higher price than the IPO price. But, not all stocks open at a higher price. So even if it is a big IPO deal... it's important for retail investors to make sure that the IPO price is reasonable before investing."

"Krafton's listing was expected to be one of the biggest ever splashes on the main bourse.
However, analyst concerns about its overvaluation saw the game developer's IPO draw a lukewarm response from retail investors."

During last week's two-day IPO subscription period,... the firm raised deposits of around 4-point-3-5 billion U.S. dollars.
This was far smaller than other IPOs this year... such as SK IE Technology which raised 70 billion dollars... and SK Bioscience which pulled in 55-point-4 billion dollars.
That being said,... Tuesday's stock price puts Krafton's market capitalization at nearly 19 billion dollars... making it the 20th largest company in South Korea by market cap and the country's biggest game maker by market value.
Krafton topped other large gaming companies such as NC SOFT, which has a market cap of 15-point-7 billion dollars... and Netmarble's which is some 10 billion dollars.
Bae Eun-ji, Arirang News.

#Krafton #initialpublicoffering #Stock

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2021-08-10, 22:00 (KST)