Meetuzen Confirms IPO Price at 27,000 KRW... Top End of Expected Price Band

[Asia Economy Reporter Jang Hyowon] Me2Gen, a subsidiary of Me2On, a KOSDAQ-listed company, has succeeded in its demand forecast.

Me2Gen announced that in the demand forecast conducted over two days from the 30th to 31st of last month targeting domestic and international institutional investors, 1,304 institutions participated, recording a competition rate of 1,115 to 1, and the public offering price was set at the top of the desired band at 27,000 KRW. The total public offering amount is approximately 86.4 billion KRW.

A representative from Mirae Asset Daewoo, which underwrote the listing, stated, “92% of the institutions participating in the actual demand forecast offered prices at or above the top of the public offering band, reflecting the high evaluation of Me2Gen’s business vision, which possesses a diversified game portfolio and marketing capabilities.”

Acquired by Me2On in 2017, Me2Gen has built a portfolio of more than 42 games across three genres: social casino, and casual games such as Solitaire and TriPeaks. In addition to proven management performance, the company is expected to grow further by expanding its slot game lineup starting with the global launch of the new video slot game ‘Jackpot Frenzy Casino’ in the second half of this year, and by expanding new casual game businesses in new fields such as match-3 puzzle games and strategy simulation.

Son Changwook, Chairman of Me2Gen, said, “We sincerely thank the investors who showed great interest in Me2Gen’s initial public offering (IPO). We will invest the funds raised through the public offering in M&A and new product development to secure global competitiveness, and we will do our best to increase corporate value after listing without losing our original intention.”

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