The Tencent-backed video game holding group has applied to float in a Korean initial public offering which could value it at about $18bn.

Krafton, a South Korea-based video game publisher backed by gaming and internet group Tencent, has filed for an initial public offering (IPO), Reuters reported yesterday, citing an announcement from the Korea Exchange.

The company was valued at KRW20 trillion ($18bn) in off-exchange trading yesterday, while the IPO is set to be one of the largest in the country this year, unnamed local sources told Reuters.

Founded by computer game studio Bluehole as a holding group in 2018, Krafton owns multiple…

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Edison Fu

Edison Fu is a reporter and Asia liaison at Global Corporate Venturing.
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