The authors of Stellar Blade are preparing to go public. The studio's valuation may exceed $2 billion
Shift Up Studio, known for Goddess of Victory: Nikke and the upcoming Stellar Blade, is about to become a public company. She has applied for a listing on the Korean Stock Exchange.
Stellar Blade
According to the document, Shift Up plans to sell 7.25 million shares during the initial public offering. The nominal share price is 200 won ($0.15).
Shift Up card on the Korean Stock Exchange website (text translated from Korean to English using Google Translate)
According to the GameLook portal, in October 2023, the market value of Shift Up was estimated by experts at about 2 trillion won (1.5 billion dollars). The studio achieved such an assessment after WeMade Entertainment sold its Shift Up shares to Aceville, the "daughter" of Tencent, for $58 million.
Korean analysts predict that after entering the stock exchange, Shift Up may rise in price to 3 trillion won ($2.3 billion). The studio owes the increase in market value to the hype surrounding the upcoming release of the futuristic action game Stellar Blade. In addition, analysts do not exclude that investors from Saudi Arabia, who have recently been actively interested in Asian gaming companies, will pay attention to Shift Up.
Currently, the largest shareholder of Shift Up is one of its founders and CEO Kim Hyun Tae (Kim Hung Tae). He owns 45% of all shares. Tencent controls another 24% of the shares.
