Krafton, developer of PlayerUnknown’s Battlegrounds (PUBG), aims to go public this year.
South Korean games developer Krafton Inc., 13.2% owned by Tencent Holdings’ investment arm, plans a five-for-one share split ahead of its planned initial public offering, through which it aims to raise over 1 trillion won ($886 million).
According to the investment banking industry on Mar. 17, the company will seek approval of the stock split plan at its annual shareholders' meeting on Mar. 31.
Under the plan, the face value of its shares will be cut to 100 won apiece from 500 won, with the number of its total outstanding shares rising to 300 million from the current 100 million.