Nexon Targeting $1.3 Billion IPO Valuation

November 8, 2011, 12:00AM

Nexon is planning an IPO for the Tokyo Stock Exchange in December. The Korean online gaming company is reportedly targeting a $1.3 billion valuation, which would make it the most valuable IPO in Japan this year.

Nexon’s IPO will be handled by Nomura Securities, Morgan Stanley and Goldman Sachs, with approval for the list expected by the end of the week. Nexon hopes to reach a market cap of $7.7 to $9 billion, which would compare favorably to the two biggest listed domestic online/social gaming companies in Japan with GREE at $8.3 billion and DeNA at $5.4 billion.

Source: TechCrunch

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Nexon Targeting $1.3 Billion IPO Valuation

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