Kakao Games May make Stellar Debut on STOCK MARKET
12 September, 2020
Kakao Game titles shares doubled in benefit on your day they went public on the junior Kosdaq market on Thursday and surged to their daily limit high.
However the stellar performance prompted mixed outlooks on the near future direction of the inventory.
The company set a new subscription record because of its initial public offering with W59 trillion in deposits (US$1=W1,188). Some analysts expect the development to last, while others worry that the inventory may be overheated.
An electronic plank at the Korea Exchange in Seoul displays the stock value of Kakao Games after its debut on the Kosdaq on Thursday. /Newsis
Kakao Games closed at W62,400, 2.6 times greater than its subscription price of W24,000. It opened up at W48,000, dual the subscription cost, and surged by the daily limit of thirty percent just two a few minutes following the market opened.
That propelled the company's total marketplace capitalization to W4.57 trillion to rank fifth on the junior bourse.
The overall game company's executives manufactured a fortune. The value of 2.41 million shares owned by CEO Nam Goong-hoon surged to W150.5 billion.
Staff with stock options made around a good W530 million revenue, while other staff's shares were valued at W40-50 million per person.
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