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Nexon's $1.2bn IPO set for December 14

Publisher may use proceeds to invest in third-party developers

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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Matt Martin avatar
Matt Martin: Matt Martin joined GamesIndustry in 2006 and was made editor of the site in 2008. With over ten years experience in journalism, he has written for multiple trade, consumer, contract and business-to-business publications in the games, retail and technology sectors.
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