Nexon to Raise $1.3 Billion, Set for Japan's Biggest IPO of 2011
Date: 11-07-2011 Views:
Nexon Co., a South Korean developer of online games such as Dragon Nest, is preparing to raise $1.3 billionin an initial public offering in Tokyo this week. This would be the largest Japanese IPO this year.
Nexon, whose headquarters is currently based in Tokyo, provides over 30 games which are serviced in 72 countries globally, reaching 1.14 billion players worldwide. Nexon hired Nomura Holdings Inc. (8604), Morgan Stanley and Goldman Sachs Group Inc. (GS) to manage the offering in Japan, the U.S. and Europe, High quality global journalism requires investment. according to the person close to the plan. The game maker expects to list on the Tokyo Stock Exchange as early as Dec. 12, and the company is valued at about 600 billion yen.
The IPO would be the biggest by a Japanese company this year and the second largest in the technology industry worldwide in 2011, according to data compiled by Bloomberg.