South Korea's top mobile game developer Netmarble Games Corp. announced on Monday it will put new shares worth up to 2.7 trillion won ($2.41 billion) on sale next month, kicking off the official process of its much anticipated initial public offering.
The firm said in a filing [in Korean] that it will issue 16,953,612 new shares priced between 121,000-157,000 KRW each (that's approximately $108-$140) with a view to raising up to 2.66 trillion won ($2.35 billion).
The final share pricing will be set on 24 April. If the IPO is successful, the company would be valued at 13.3 trillion won ($11.6b). The shares are to be listed on Korean bourse Kospi. According to mobile app data and insights firm App Annie, Netmarble is the ninth-largest game publisher in the world in terms of revenue past year.
Netmarble's global profile has risen in recent months with its latest title, Lineage 2: Revolution, based on NCSoft's online blockbuster, becoming the world's second-highest grossing mobile game.
Netmarble said the money raised will be used to pay off debts, invest in R&D and pursue investments and acquisitions. Looking at its revenue off the Google Play store, it is the world's third-largest game publisher.