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Nexon's $1.2bn IPO set for December 14

By Matt Martin

Tue 06 Dec 2011 10:03am GMT / 5:03am EST / 2:03am PST

Publisher may use proceeds to invest in third-party developers


- Specialized in developing, publishing and servicing online games

- Games in service: 17 unique games...

Japanese online gaming firm Nexon has fixed the price for its $1.2 billion initial public offering and will list on the Tokyo Stock Exchange December 14.

Shares will sell at ¥1300 each with Nexon raising ¥91 billion ($1.2bn) with a market value of ¥560 billion.

According to Reuters, Nexon plans to use ¥9 billion for a new building for Nexon Korea, pay off debt with ¥14 billion and use the remainder of the proceeds on upgrading systems with the possibility of investment in third-party game developers.

The IPO is Japan's largest since Otsuka Holdings floated in December last year, for ¥160 billion.

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Allan Simonson Co-Founder, Boomzap

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Surely Nexon Co. Ltd is a South KOREAN company, no? They're HQ'ed in Tokyo at the moment though, presumably due to a more receptive stock market.

Posted:4 years ago


Vincent Carté Producer/Artist

1 0 0.0
Nexon is Korean... 넥슨

Posted:4 years ago


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