Me2on Subsidiary Me2zen Submits Securities Registration Statement... Plans for August Listing

Global Social Casino and Casual Game Service
Targeting KOSDAQ Market Entry in August After Demand Forecast on 30-31

[Asia Economy Reporter Hyungsoo Park] Me2Gen, a subsidiary of Me2On listed on KOSDAQ, is proceeding with the public offering process to be listed on the KOSDAQ market.

Me2Gen announced on the 9th that it has submitted a securities registration statement to the Financial Services Commission and has begun the public offering process for KOSDAQ listing.

The number of shares offered for listing is 3,199,200 DR, and the desired offering price band is 21,000 to 27,000 KRW. The total offering amount is approximately 67.2 billion KRW based on the lower end of the offering price. Demand forecasting will be conducted over two days from the 30th to the 31st, and the offering price will be finalized. Subscription will take place on the 5th and 6th of next month, with the listing on the KOSDAQ market scheduled for next month. Mirae Asset Daewoo is the lead underwriter for the listing.

Me2Gen is a company that provides social casino and casual games. It has built a diverse game portfolio of more than 42 titles across three genres: social casino, solitaire, and TriPeaks. It has secured a broad user base primarily in the North American region.

Last year, Me2Gen achieved sales of 102.7 billion KRW, operating profit of 46 billion KRW, and net profit of 37.3 billion KRW. From 2015 to 2019, it recorded an average annual sales growth rate of 39% over the past five years. Its operating profit margin was 44.8%, demonstrating outstanding profitability compared to peers in the same industry.

Me2Gen successfully launched casual games such as Solitaire and TriPeaks. Going forward, it plans to expand its casual game business by releasing new casual games in new fields such as simulation and match-3. It will also strengthen its social casino business by launching new slot games in the second half of this year.

Sung Jongwon, Chief Financial Officer (CFO) of Me2Gen, said, "Since the release of our first slot game in 2012, Me2Gen has accumulated expertise and capabilities in mobile games. We aim to create a foundation for a new leap forward by listing on the KOSDAQ market."

Me2Gen conducted demand forecasting targeting institutional investors at the end of last year but decided to postpone the listing due to a weakened investment sentiment. Considering market conditions, Me2Gen adjusted its listing valuation and is now pushing forward with the listing once again.

This content was produced with the assistance of AI translation services.