Diamond Member Pelican Press 0 Posted July 11, 2024 Diamond Member Share Posted July 11, 2024 This is the hidden content, please Sign In or Sign Up Stellar Blade maker Shift Up surges almost 50% on IPO Hyung-Tae Kim, chief executive officer of Shift Up Corp., strikes the drum during the company’s listing ceremony at the Korea Exchange (KRX) in Seoul, South Korea, on Thursday, July 11, 2024. Game developer Shift Up is known for its mobile and computer games that include Goddess of Victory: Nikke and console game Stellar Blade. Bloomberg | Bloomberg | Getty Images Shares of South Korean video game developer Shift Up spiked almost 50% as the company debuted on the Kospi on Thursday. The video game developer, which counts ******** internet giant Tencent as its second largest shareholder, saw its shares climb as high as 89,500 South Korean won (about $64.89) apiece, a 49.17% gain from its initial public offering price of 60,000 won. The company This is the hidden content, please Sign In or Sign Up , raising 435 billion won or about $315.56 million. At the offering price, the company would be valued at 3.48 trillion won, according to CNBC’s calculations. Demand was strong with institutional investors This is the hidden content, please Sign In or Sign Up and the This is the hidden content, please Sign In or Sign Up This is South Korea’s largest IPO since the debut of maintenance and repair firm HD Hyundai Marine Solution in May. Shift Up was established in 2013, but only gained prominence in 2024 after it released This is the hidden content, please Sign In or Sign Up , a PlayStation 5 exclusive that This is the hidden content, please Sign In or Sign Up . It became the best selling game in the U.S. for April, despite being released on April 26. In just two months, the game This is the hidden content, please Sign In or Sign Up . Shift Up also makes the free-to-play game Goddess of Victory: Nikke, released in 2022. The company reported sales of 168.6 billion won in 2023, up 155.2% year-on-year. This is the hidden content, please Sign In or Sign Up #Stellar #Blade #maker #Shift #surges #IPO This is the hidden content, please Sign In or Sign Up This is the hidden content, please Sign In or Sign Up 0 Quote Link to comment https://hopzone.eu/forums/topic/62794-stellar-blade-maker-shift-up-surges-almost-50-on-ipo/ Share on other sites More sharing options...
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