IndustryGamers - Informing the Games Industry

Nexon Readying a $1.3 Billion IPO in Japan

Posted November 8, 2011 by M.H. Williams

Nexon is looking to jump into the wide, wonderful world of stocks soon.  Japanese news site Nikkei is reporting that the Korean online gaming company is planning to create an initial public offering for listing on the Tokyo Stock Exchange.  Nexon recently moved its headquarters into the region and is looking to raise ¥100 billion ($1.3 billion) in the region, the largest IPO in Japan this year.

Nomura Securities, Morgan Stanley and Goldman Sachs are reportedly managing the offering, with approval expected later this week. Nexon is hoping to hit a market cap of ¥600 to ¥700 billion ($7.7 to $9 billion), just under Japanese mobile/social company GREE ($8.3 billion) and just above DeNA ($5.4 billion).

[Via TechCrunch]

M.H. Williams has been writing in some form or another for ten years and has been a hardcore gamer since the NES first graced American shores.  You can catch him on Twitter as @AutomaticZen, Google+ as himself, or on his personal Facebook page.