Odin Developer Lionheart Studio Files Preliminary Review for KOSDAQ Listing

[Asia Economy Reporter Seungjin Lee] Lionheart Studio, the developer of the mobile game ‘Odin: Valhalla Rising,’ is preparing for a KOSDAQ listing.

According to the Korea Exchange on the 22nd, Lionheart Studio submitted a preliminary review application for listing on the KOSDAQ market on the same day.

The lead underwriters are Korea Investment & Securities and JP Morgan, with NH Investment & Securities and Goldman Sachs participating as joint underwriters.

The total number of shares planned for listing is 88,121,600, of which 14,620,000 shares will be offered to the public.

Lionheart Studio is a subsidiary of Kakao Games and developed the hit mobile game 'Odin: Valhalla Rising.'

Last month, Kakao Games recognized a valuation close to 4 trillion KRW during the process of acquiring additional shares of Lionheart Studio.

However, the recent poor performance of game companies’ stock prices is expected to be a variable in Lionheart Studio’s listing process.

Securities firms anticipate that if the core subsidiary Lionheart Studio goes public, a discount on the parent company Kakao Games’ stock price will be inevitable.

It is reported that the company internally aims to complete the listing within this year.

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