Korea’s Netmarble to raise $2.3bn in IPO

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Netmarble Games, the world’s third-biggest maker of mobile games, is set to raise Won2.66tn ($2.3bn) on its impending float on the Korea Exchange.

The company has set the price of 17m new shares at Won157,000 apiece, at the top of its intended price range of Won121,000-Won157,000.

The company, which counts games such as Seven Knights, Everybody’s Marble and Marvel Future Fight among its offerings, intends to use the money raised from the float to help fund an aggressive global expansion.

The company’s chief executive has flagged interest in pursuing merger and acquisition opportunities following the initial public offering.

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