Hyung-Tae Kim, CEO of Shift Up Corp., beats the drum during the company’s initial public offering on the Korea Exchange (KRX) in Seoul, South Korea, on Thursday, July 11, 2024. Game developer Shift Up is known for its mobile and computer games, including Goddess of Victory: Nikke and the console game Stellar Blade.
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Shares of South Korean video game developer Shift Up soared nearly 50% when the company debuted on the Kospi on Thursday.
The video game developer, which has Chinese internet giant Tencent as its second-largest shareholder, saw its shares rise to 89,500 South Korean won (about $64.89) each, a gain of 49.17% from its IPO price of 60,000 won.