Shift Up, a South Korean game development studio behind games like Stellar Blade and Nikke, made its debut on the Seoul stock market today. The closing price on the first day was 71,000 won per share, marking an 18.33% increase from the opening price of 60,000 won per share (latest share price).
The IPO of Shift Up is considered the second largest IPO of a game company in South Korea, just behind Krafton, the parent company of PUBG, which went public in 2021.
Founded in 2013 by Hyung-tae Kim, a former NCSoft employee, and Kyung Rip Min, who previously worked at Nexon and mobile game studio Mobil Factory, Shift Up has received investments from Tencent, which also participated in their IPO.
The company’s current game portfolio includes three titles: Destiny Child (2016), Goddess of Victory: Nikke (2022), and the upcoming Stellar Blade (2024).
Source: Bloomberg
TLDR: Shift Up, a Korean game studio, went public on the Seoul stock market with an IPO that saw a 18.33% increase on the first day. Known for games like Destiny Child and Nikke, the company was founded in 2013 and has Tencent as an investor.
Leave a Comment