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Marvel: Future Fight developer Netmarble seeking $2.4B through IPO

South Korean mobile game juggernaut Netmarble is aiming to raise around $2.4 billion through an upcoming initial public offering.

Chris Kerr, News Editor

March 20, 2017

1 Min Read

South Korean mobile game juggernaut Netmarble is aiming to raise around $2.4 billion through an upcoming initial public offering (IPO).

As reported by Bloomberg, the Marvel: Future Fight developer plans to sell 17 million shares at prices ranging from 121,000 won ($108) to 157,000 won ($140). 

Those price points will be finalized next month on April 24, but at the top end the IPO would see the company valued at roughly 13.3 trillion won ($11.9 billion). 

Some of the money raised, around 1 trillion won ($897.1 million), will be spent on further deals and investment, while a further 897 billion won ($804.7 million) will be used to pay off some of the studio's debt.

Looking to the future, most of Netmarble's recent purchases suggest the company is keen to secure a foothold in the west.

Back in December, Netmarble splashed out a reported $800 million on the Kabam-owned Vancouver studio behind Marvel Contest of Champions.

It also picked up the customer support crew from Kabam's Austin office, and some of the business development, marketing and user acquisition teams from its San Francisco branch. 

Prior to that, the Korean firm invested $130 million in U.S. mobile developer SGN, creator of casual titles like Juice Jam and Panda Pop.

About the Author(s)

Chris Kerr

News Editor, GameDeveloper.com

Game Developer news editor Chris Kerr is an award-winning journalist and reporter with over a decade of experience in the game industry. His byline has appeared in notable print and digital publications including Edge, Stuff, Wireframe, International Business Times, and PocketGamer.biz. Throughout his career, Chris has covered major industry events including GDC, PAX Australia, Gamescom, Paris Games Week, and Develop Brighton. He has featured on the judging panel at The Develop Star Awards on multiple occasions and appeared on BBC Radio 5 Live to discuss breaking news.

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