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Companies

Krafton's downsized IPO spurred by South Korean regulator worries

Doubts swirl over whether game developer's megahit PUBG enough to ensure value

Krafton's hit game PUBG is the company's mainstay product.

SEOUL -- South Korean game developer Krafton surged to prominence on the back of its wildly popular international hit PlayerUnknown's Battlegrounds (PUBG).

The product, a pioneer of "battle royale" games, propelled the company toward what was predicted just last month to be the biggest initial public offering on the Seoul stock market, raising as much as 5.6 trillion won ($5 billion) and generating further excitement surrounding an IPO boom underway in South Korea.

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