Shift Up Attracts 18.5 Trillion Won in General Subscription Deposits... Competition Ratio 341 to 1
A deposit of 18.5 trillion KRW was poured into the general subscription of Shift Up, a game company preparing for a KOSPI listing.
According to Korea Investment & Securities on the 3rd, Shift Up conducted a general public offering subscription over two days from the previous day to the 3rd. The number of subscriptions was 694,283, with 618,502,400 shares. The deposit amounted to 18.555 trillion KRW, resulting in an overall competition rate of 341.24 to 1.
Earlier, Shift Up set the public offering price at 60,000 KRW, the top end of the desired band, during the demand forecast for institutional investors. The competition rate among institutional investors was 225.94 to 1.
The total number of public offering shares is 7.25 million, raising 435 billion KRW in total. Based on the offering price, the market capitalization is expected to be around 3.4815 trillion KRW. This ranks fourth among KOSPI-listed game companies, following Krafton, Netmarble, and NCSoft.
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Shift Up plans to use the funds raised through the public offering to expand IP and strengthen game development infrastructure to secure competitiveness.
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