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Biz News Korea(Eng)
Japan’s game publisher SNK working to go public on Kosdaq in 2018
- Collected
- 2017.11.01
- Distributed
- 2017.11.02
- Source
- Go Direct
According to the investment bank industry on Tuesday, SNK is expected to choose an underwriter for its initial public offering among Korean securities companies this month in an aim to complete the listing on the secondary Kosdaq in the second half of 2018.
Having started as a video game developer in 1979, SNK has gained fame for its action games for arcades around the world. It struggled upon the arrival of PC games. In 2015, it was taken over by 37Games of China at 74 billion won ($66 million). Its revenue mostly comes from royalties in their intellectual property rights from applications in mobile and PC games.
The corporate name and game labels are relatively well known in Korea. Its worth could be estimated at around 1 trillion won, one investment bank official said.
Game stocks this year have benefited from the record-making rally of the main stock index. Shares of Kospi-listed Netmarble Games gained 16 percent from the IPO price in May, while Kosdaq-listed Pearl Abyss jumped 43 percent since its debut in September.
By Song Gwang-sup and Lee Ha-yeon
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]