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South Korean game developer Krafton lowers IPO target

imageStock Markets35 minutes ago (Jul 01, 2021 04:16AM ET)

(C) Reuters. FILE PHOTO: Players are pictured as they attend the PUBG Global Invitational 2018, the first official esports tournament for the computer game PlayerUnknown’s Battlegrounds in Berlin, Germany, July 26, 2018. REUTERS/Fabrizio Bensch/File Photo

SEOUL (Reuters) -South Korean game developer Krafton Inc has made a downward revision to its planned initial public offering (IPO) and now aims to raise at least 3.5 trillion won ($3.09 billion) down from the previously announced target of 4.6 trillion won, it said on Thursday.

The IPO target adjustment from the company behind blockbuster video game PlayerUnknown’s Battlegrounds follows a Financial Supervisory Service (FSS) request for it to resubmit its IPO registration statement last week.

($1 = 1,132.0400 won)

South Korean game developer Krafton lowers IPO target

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