SEOUL -- Shares in South Korean game developer Krafton plunged on Tuesday in a disappointing market debut for the developer of worldwide hit "PlayerUnknown's Battlegrounds," or PUBG, amid concerns over the company's exposure to China.
Krafton closed at 454,000 won ($395) per share on the benchmark Kospi exchange, down 8.8% from its initial public offering price of 498,000 won, but 1.2% above it's official starting price of 448,500 won. The shares swung in a wide range, dropping as much as nearly 20% from the IPO mark, and never managed to rise above that level.
