PUBG parent Krafton applies for IPO

Holding firm and PlayerUnknown's Battlegrounds owner Krafton has applied for preliminary approval to launch an Initial Public Offering in Korea.

The company has reached out to the Korea Exchange, according to Reuters. Krafton also reported revenue of ₩1.67 trillion ($1.5 billion) in 2020, as well as operating profit of ₩774 billion ($694 million).

Seoul-based analysts have valued Krafton to the tune of ₩20 trillion ($17.9 billion), a considerably lower figure than the ₩30 trillion ($27.2 billion) valuation reported by Bloomberg in January.

Originally named Bluehole, Krafton was founded in 2017 to manage the growth of PUBG. The development of the battle royale game itself is handled by PUBG Corp, a subsidiary of Krafton.

PUBG has sold over 70 million copies since its early access launch in 2017. A free-to-play sister title, PUBG Mobile, has also generated over $5 billion in player spending, with $2.7 billion of that figure accumulated in 2020.