Nexon's $1.2bn IPO set for December 14
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.