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Shift Up, a South Korean game developer known for titles like Stellar Blade, made a successful debut on the Korean Stock Exchange. The Tencent-backed company raised 435 billion won ($320 million) in its initial public offering, marking the largest IPO for a gaming firm in South Korea since Krafton raised $3.8 billion in 2021. Shift Up's shares surged nearly 50% during its first day of trading, closing up 18% from the IPO price of 60,000 won per share. The company now boasts a market capitalization of 4.1 trillion won (approximately $3 billion).
Shift Up stock ended the trading day at +18% and a 4.1 trillion won market capitalization (US$3B). So in $, Shift Up is now worth as much as Koei Tecmo - essentially just on the back of 2 IPs (Nikke, Stellar Blade) + of course implied future blockbuster production potential. https://t.co/r7B4UxxEYn
Stellar Blade developer Shift Up has achieved South Korea’s largest initial public offering (IPO) for a video game company in three years, raising over $300m. https://t.co/nx4OGR8UaC https://t.co/iRemCk2YZk
Stellar Blade developer Shift Up raises $320m in South Korea's largest games IPO since 2021 https://t.co/udU915h4nR
