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IPO

South Korea's Krafton confirms IPO price at top of range

Game developer poised to raise $3.7bn on Kospi listing next month

Game developer Krafton is riding the success of PlayerUnknown's Battlegrounds, or PUBG, to  its scheduled listing next month.   © Reuters

SEOUL -- Game developer Krafton has confirmed its initial public offering price at the top of its suggested range, paving the way for it to become South Korea's second-biggest IPO.

Krafton, best known for its battle royale game PlayerUnknown's Battlegrounds, or PUBG, said Thursday that it would offer 8.7 million shares at 498,000 won ($434) per share, as 95% of institutional investors were willing to buy the stock at that price or higher.

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