Maker of PlayerUnknown’s Battlegrounds (PUBG, the battle royale shooter game), Krafton has announced that it is raising $5 billion in a public offering.
This could help Krafton finance its plans to become a dominant player in the fast-growing game industry, as Bloomberg reported the company plans to sell 10 million shares between $409.78 and $498.36 a share.
A public offering of Krafton would value the company at $25 billion, which is close to Epic Games’ recent valuation of $28 billion for Fortnite developer Epic Games.
The company plans to announce its final price on July 9 and go public on July 22. In 2017, PUBG turned the first-person shooter market upside down by launching a battle royale game that transformed it. Krafton, however, needs to prove it can succeed beyond the popular game. Among the actions Kraftont took with its profits was to invest in Striking Distance Studios, a game development firm founded in San Ramon by Call of Duty veteran Glen Schofield. In addition to its gaming plans, Krafton is looking into an animated series and web cartoon.