Nexon IPO Set for Dec. 14

Despite a recent security breach in November and contending with the timing of Zynga's initial public offering, Nexon will makes its debut on the Tokyo Stock Exchange December 14, according to Reuters. The social and online game developer will reportedly sell at around ¥1300 each with Nexon expecting to raise around ¥91 billion, or $1.2 billion USD, with a market value of ¥560 billion.

According to Reuters, Nexon plans to use that ¥9 billion for a new building for Nexon Korea, pay off some of its existing debt with ¥14 billion and use the remainder of the cash on upgrading systems and investing in third-party game developers.

Nexon's IPO is Japan's largest since Otsuka Holdings' in December last year, for ¥160 billion.


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