Shift Up, a Korean game developer led by Korean illustrator Kim Hyung-tae, which launched "Destiny Child", "Victory: Nikki" and "Stellar Blade", was earlier announced by Kim Hyung-tae to be officially listed on the Korea Stock Exchange.
Shift Up announced this year that it would apply for listing, and has now become the second Korean gaming company to go public this year, and also the largest gaming company to go public through a public offering.
On the first day of listing, Shift Up's trading share price rose 49%, and the cumulative amount raised reached 4350 billion won (about NT$103 billion), which is expected to be used for the subsequent development of diversified game content. At the same time, Kim Hyung-tae also emphasized that listing is not the only goal, but he hopes that it will allow the company to focus more on creating high-quality games.
After the IPO, the company's operating structure will remain unchanged, with Jin Hengtai still the largest shareholder and Tencent Holdings becoming the second largest investor.
Today, SHIFTUP is celebrating its 11th anniversary and listing on the KOSPI.
We could not have done it without the help of so many people. We are deeply and sincerely grateful.
However, we recognize that listing is a process, not a goal.
We will remain calm and focus on making…— Kim Hyung Tae, 김형태, キム・ヒョンテ(@jamm3rd) July 11, 2024
