Nexon sold 90 million shares at Y1300 each in Japan's biggest initial public offering this year co-ordinated by investment banks Nomura, Morgan Stanley and Goldman Sachs.

Japan-based online games develop Nexon, which was started in Korea and moved its headquarters to Tokyo, raised $1.2bn in its flotation.

Nexon sold 90 million shares at Y1300 each in Japan’s biggest initial public offering this year co-ordinated by investment banks Nomura, Morgan Stanley and Goldman Sachs.

After the offering, NXC, which is controlled by Nexon founder Jungju Kim, owned 59%, while its insitutitonal investors included internet conglomerate Softbank Ventures Korea and venture capital firms NE Partners and Insight Venture Partners.…