Media: Stellar Blade creators aim to raise over $300 million through IPO
Shift Up Studio plans to sell its shares at the top end of its set price range during its IPO, sources from Reuters report. It expects to raise 435 billion won (313 million dollars) from investors upon its stock market debut.
Stellar Blade
In its IPO application, the studio mentioned that it plans to sell 7.25 million shares during the initial public offering. If Reuters' information is accurate, the studio will ask for approximately 60,000 won (43.3 dollars) per share.
Reuters journalists estimated that in this scenario, upon entering the stock market, Shift Up's market value will reach 3.5 trillion won (2.52 billion dollars).
The IPO is expected to take place in July, though the exact date is unknown. Previously, Shift Up had to postpone it as Korean regulators asked the studio to update its application and provide more details on potential risks for investors. They were concerned that at the beginning of the year, nearly 98% of Shift Up's revenue came from a single game — Goddess of Victory: Nikke.
