Krafton will resubmit an IPO application or postpone its listing for two weeks

According to reports, PUBG Mobile developer Krafton (Blue Hole Company) said today that after being questioned by regulators, the company will resubmit its IPO (initial public offering) application. Krafton told the media today: “We plan to revise the IPO registration statement in response to some requests from financial regulators.”

In April of this year, the Korea Exchange has approved Krafton’s initial listing plan. It was reported on June 11 that Krafton will officially launch an IPO next week (starting on June 14), which may become the largest IPO in South Korea in 11 years.

But then, South Korean financial regulators raised some questions about Krafton’s listing application. In this regard, Krafton also confirmed today, saying that it will modify the IPO registration statement to respond to the doubts of the regulatory authorities. Two people familiar with the matter said that Krafton’s IPO may be delayed by up to two weeks due to regulatory review.

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People familiar with the matter have previously stated that Krafton, backed by Tencent, plans to sell a 20% stake in the IPO, raising at least US$5 billion. According to current plans, Krafton will seek a valuation of approximately $25 billion.

Statistics show that if the scale of Krafton’s IPO exceeds US$5 billion, it will become the largest IPO in South Korea since Samsung Life went public (raising US$4.4 billion) in 2010. Currently, the Korean IPO market is in its hottest state on record. Analysts predict that the market will rise at least 20 trillion won (approximately US$18.4 billion) this year, which is four times the amount in 2020.

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