Game company Nexon to raise $1.2 billion in Tokyo IPO
TOKYO (Reuters) - Nexon Co will sell about 95 billion yen ($1.2 billion) of shares in what would likely be Japan's largest initial public offering this year, according to documents filed by the online-game company on Thursday.
Nexon will issue 70 million new shares and a shareholder will sell 100,000 shares in Japan and overseas, the document said. Each stock is expected to be priced at about 1,360 yen.
Nomura Securities Co, Morgan Stanley, Goldman Sachs Group will manage the sale as main underwriters, the document said.
The IPO will be the biggest since Otsuka Holdings Co (4578.T) pulled in around 160 billion yen in December 2010.
Of the 70 million new shares to be issued, 35 million will be sold in Japan, the document said. Nexon plans to price the stock on December 5 after setting a price range on November 28.
The shares will start trading on December 14 on the Tokyo Stock Exchange, the document said.
Nexon, founded in 1994, has operations in South Korea, Japan, Luxembourg, and the United States.
(Reporting by Nathan Layne and Junko Fujita; Editing by Chris Gallagher)
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