Nexon To File $1.3B IPO Next Month

Seoul-based online game publisher Nexon is heading for
an initial public offering on the Tokyo Stock Exchange next month,
according to media reports.

Japanese business newspaper Nikkei, as translated by
TechCrunch, is reporting that the company is aiming to raise ¥100
billion ($1.3 billion) in total as part of the IPO, after moving its
headquarters to Tokyo earlier this year.

This would make Nexon's IPO the biggest that Japan has seen this year.

Companies that will reportedly manage the offering include Nomura
Securities, Morgan Stanley and Goldman Sachs, and Nexon is expected to
be approved for the listing sometime this week.

The report follows Nexon America's third quarter fiscal results earlier this month, with the company seeing a 29 percent revenue growth year-over-year.

Nexon said the main highlight for the quarter was the launch of Eyedentity Games-developed online action-MMO Dragon Nest.