Korea / Special Sits, Pairs, Index Rebalancing, Clepsydra Capital

Sanghyun Park

Korea / Special Sits, Pairs, Index Rebalancing

Clepsydra Capital

Investigate special situations, pairs, and index rebalancing trades in Korea.

Equity Capital Markets

<p>Krafton will close the bookbuilding today, which started on the 14th. Two days later, it will finalize and announce the offering price on the 29th.</p><table class="table table-striped">
<colgroup>
<col width="100">
<col width="100">
</colgroup>
<tbody>
<tr><td colspan="2" data-sheets-value='{"1":2,"2":"Schedule"}'>Krafton IPO schedule</td></tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Book close"}'><strong>Book close</strong></td>
<td data-sheets-value='{"1":3,"3":44404}' data-sheets-numberformat='{"1":5,"2":"yyyy. m. d","3":1}'><strong>2021. 7. 27</strong></td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Allotment"}'><strong>Allotment</strong></td>
<td data-sheets-value='{"1":3,"3":44406}' data-sheets-numberformat='{"1":5,"2":"yyyy. m. d","3":1}'><strong>2021. 7. 29</strong></td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Subscription"}'>Subscription</td>
<td data-sheets-value='{"1":3,"3":44410}' data-sheets-numberformat='{"1":5,"2":"yyyy. m. d","3":1}'>2021. 8. 2</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Payment"}'>Payment</td>
<td data-sheets-value='{"1":3,"3":44413}' data-sheets-numberformat='{"1":5,"2":"yyyy. m. d","3":1}'>2021. 8. 5</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Listing"}'>Listing</td>
<td data-sheets-value='{"1":3,"3":44418}' data-sheets-numberformat='{"1":5,"2":"yyyy. m. d","3":1}'>2021. 8. 10</td>
</tr>
<tr><td colspan="2" data-sheets-value='{"1":2,"2":"Source: DART"}'>Source: DART</td></tr>
</tbody>
</table><h2>Online press conference on the 26th</h2><p>Krafton held an online press conference yesterday, where the CFO extensively commented on the bookbuilding atmosphere.</p><section class="figure"><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/220/637/original/1.jpeg?1627355163" class="editor-image img-responsive" data-smartkarma-image-id="220637"></figure></section><div class="content-caption">(Courtesy News 1)</div><p>First of all, the CFO said that the response was particularly enthusiastic from overseas institutional investors. He said that they include a number of long-term funds.</p><p><strong>This is a direct quote from Bae Dong-geun, CFO of Krafton. He said,</strong></p><blockquote><p>It is difficult to give a clear answer because the institutional bookbuilding has not been completed yet, but at this point (one day left until the bookbuilding deadline), I can confidently say that it was a success.</p></blockquote><p><strong>He further revealed that overseas institutions participated more aggressively in the subscription than local institutional investors, and this somewhat surprising trend was clearly seen in the actual pricing.</strong></p><h2>What the bankers are saying</h2><p>Then, below are the actual results of bookbuilding being leaked by the bankers.</p><p><strong>The bankers are also saying that the institutional mood confirmed during the two weeks of bookbuilding is obviously hotter than initially expected.</strong></p><div class="content-highlight"><p><strong>For example, on the first day of bookbuilding alone, overseas institutional investors applied for a quantity that was 20 to 30 times more than the allocated quantity at a price higher than the upper end of the indicative price band (₩498,000)</strong></p></div><table class="table table-striped">
<colgroup>
<col width="100">
<col width="100">
<col width="100">
</colgroup>
<tbody>
<tr>
<td data-sheets-value='{"1":2,"2":"Pricing"}'>Indicative price band</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"Low, adjusted"}'>Lower end</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"High, adjusted"}'>Upper end</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Price"}'>Price</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":400000}'>₩400,000</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":498000}'><strong>₩498,000</strong></td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Base deal size"}'>Base deal size</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":3461.692}' data-sheets-formula="=R[-1]C[0]*Terms!R8C3/1000000000">₩3,461.7B</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":4309.80654}' data-sheets-formula="=R[-1]C[0]*Terms!R8C3/1000000000"><strong>₩4,309.8B</strong></td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":" - Institutional allotment"}'>- Institutional allotment</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":1903.9306000000001}' data-sheets-formula="=R[-1]C[0]*R4C6">₩1,903.9B</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":2370.3935969999998}' data-sheets-formula="=R[-1]C[0]*R4C6"><strong>₩2,370.4B</strong></td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Implied market cap"}'>Implied market cap</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":19559.228}' data-sheets-formula="=R[-3]C[0]*48898070/1000000000">₩19,559.2B</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":24351.23886}' data-sheets-formula="=R[-3]C[0]*48898070/1000000000"><strong>₩24,351.2B</strong></td>
</tr>
<tr><td colspan="3">Source: DART</td></tr>
</tbody>
</table><p>Of course, this news also reached the ears of domestic institutions.</p><p><strong>The pricing for local institutional investors started on the 20th. And it is being said (or leaked by the bankers) that local institutions are placing orders using all available funds as their competitive sentiment must have been triggered by the aggressive participation of foreign institutions.</strong></p>

Krafton will close the bookbuilding today, which started on the 14th. Two days later, it will finalize and announce the offering price on the 29th.





Krafton IPO schedule

Book close
2021. 7. 27


Allotment
2021. 7. 29


Subscription
2021. 8. 2


Payment
2021. 8. 5


Listing
2021. 8. 10

Source: DART

Online press conference on the 26thKrafton held an online press conference yesterday, where the CFO extensively commented on the bookbuilding atmosphere.(Courtesy News 1)First of all, the CFO said that the response was particularly enthusiastic from overseas institutional investors. He said that they include a number of long-term funds.This is a direct quote from Bae Dong-geun, CFO of Krafton. He said,It is difficult to give a clear answer because the institutional bookbuilding has not been completed yet, but at this point (one day left until the bookbuilding deadline), I can confidently say that it was a success.He further revealed that overseas institutions participated more aggressively in the subscription than local institutional investors, and this somewhat surprising trend was clearly seen in the actual pricing.What the bankers are sayingThen, below are the actual results of bookbuilding being leaked by the bankers.The bankers are also saying that the institutional mood confirmed during the two weeks of bookbuilding is obviously hotter than initially expected.For example, on the first day of bookbuilding alone, overseas institutional investors applied for a quantity that was 20 to 30 times more than the allocated quantity at a price higher than the upper end of the indicative price band (₩498,000)







Indicative price band
Lower end
Upper end


Price
₩400,000
₩498,000


Base deal size
₩3,461.7B
₩4,309.8B


- Institutional allotment
₩1,903.9B
₩2,370.4B


Implied market cap
₩19,559.2B
₩24,351.2B

Source: DART

Of course, this news also reached the ears of domestic institutions.The pricing for local institutional investors started on the 20th. And it is being said (or leaked by the bankers) that local institutions are placing orders using all available funds as their competitive sentiment must have been triggered by the aggressive participation of foreign institutions.

Krafton Bookbuilding Last Day: Institutional Mood So Far

Japan/Asia Long-Short, LightStream Research

Mio Kato

Japan/Asia Long-Short

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

<p>Krafton appears to be doing the PR rounds regarding investor interest in its IPO. <a href="https://asia.nikkei.com/Business/Markets/IPO/Krafton-expects-IPO-success-as-big-investors-show-interest" target="_blank" rel="noopener">The Nikkei</a> and various other news outlets had some positive sounding stories. If Krafton does indeed manage to price at the top end of its range or above we think that would be a fantastic opportunity for investors...</p>

Krafton appears to be doing the PR rounds regarding investor interest in its IPO. The Nikkei and various other news outlets had some positive sounding stories. If Krafton does indeed manage to price at the top end of its range or above we think that would be a fantastic opportunity for investors...

Krafton IPO - A Few Thoughts on Its IP and the Tencent Relationship

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

<div class="content-highlight"><p><strong>Krafton held an online press conference today.</strong> The key focus of the <a href="http://koreabizwire.com/krafton-eyes-aggressive-mas-after-ipo/195358" target="_blank" rel="noopener">online press conference</a> was that Krafton will be aggressive in overseas M&amp;As. The company could receive nearly 2.5 trillion won in cash from the IPO proceeds. Plus, the company had net cash of 390 billion won at the end of 1Q 2021. Consequently, Krafton could have nearly<strong> 3.0 trillion won</strong> in net cash post the IPO which the company can use to make big overseas acquisitions.</p></div><p><strong>Krafton IPO = PUBG + SPAC? </strong>In some ways, the key thesis of the Krafton IPO is the continued success of PUBG + emphasis on M&amp;As to grow the business in overseas markets. In that respect, Krafton is telling the investors to trust the company to make excellent acquisitions that could add long-term value for the company. This is probably a tough sell for many investors and this remains a major reason on the poor investors' response on the Krafton IPO.</p><p>In addition, Chinese government's huge crackdown on the US listed Internet companies and the for-profit education sector further raise significant concerns that this crackdown could expand to other sectors such as games which would negatively impact Krafton. Overall, continue to maintain an AVOID rating of this IPO. </p>

Krafton held an online press conference today. The key focus of the online press conference was that Krafton will be aggressive in overseas M&amp;As. The company could receive nearly 2.5 trillion won in cash from the IPO proceeds. Plus, the company had net cash of 390 billion won at the end of 1Q 2021. Consequently, Krafton could have nearly 3.0 trillion won in net cash post the IPO which the company can use to make big overseas acquisitions.Krafton IPO = PUBG + SPAC? In some ways, the key thesis of the Krafton IPO is the continued success of PUBG + emphasis on M&amp;As to grow the business in overseas markets. In that respect, Krafton is telling the investors to trust the company to make excellent acquisitions that could add long-term value for the company. This is probably a tough sell for many investors and this remains a major reason on the poor investors' response on the Krafton IPO.In addition, Chinese government's huge crackdown on the US listed Internet companies and the for-profit education sector further raise significant concerns that this crackdown could expand to other sectors such as games which would negatively impact Krafton. Overall, continue to maintain an AVOID rating of this IPO. 

Major Highlights of Krafton's Online Press Conference & Focus on Overseas M&As Post IPO

<h2>Listing date</h2><p>The listing date of Krafton has been confirmed as August 10th.</p><table class="table table-striped">
<colgroup>
<col width="100">
<col width="100">
</colgroup>
<tbody>
<tr><td colspan="2" data-sheets-value='{"1":2,"2":"Schedule"}'>Krafton IPO schedule</td></tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Book open"}'>Book open</td>
<td data-sheets-value='{"1":3,"3":44391}' data-sheets-numberformat='{"1":5,"2":"yyyy. m. d","3":1}'>2021. 7. 14</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Book close"}'>Book close</td>
<td data-sheets-value='{"1":3,"3":44404}' data-sheets-numberformat='{"1":5,"2":"yyyy. m. d","3":1}'>2021. 7. 27</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Allotment"}'>Allotment</td>
<td data-sheets-value='{"1":3,"3":44406}' data-sheets-numberformat='{"1":5,"2":"yyyy. m. d","3":1}'>2021. 7. 29</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Subscription"}'>Subscription</td>
<td data-sheets-value='{"1":3,"3":44410}' data-sheets-numberformat='{"1":5,"2":"yyyy. m. d","3":1}'>2021. 8. 2</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Payment"}'>Payment</td>
<td data-sheets-value='{"1":3,"3":44413}' data-sheets-numberformat='{"1":5,"2":"yyyy. m. d","3":1}'>2021. 8. 5</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Listing"}'><strong>Listing</strong></td>
<td data-sheets-value='{"1":3,"3":44418}' data-sheets-numberformat='{"1":5,"2":"yyyy. m. d","3":1}'><strong>2021. 8. 10</strong></td>
</tr>
<tr>
<td><em><strong> - Kakao Bank's listing</strong></em></td>
<td><em><strong>2021. 8. 5</strong></em></td>
</tr>
<tr><td colspan="2" data-sheets-value='{"1":2,"2":"Source: DART"}'>Source: DART</td></tr>
</tbody>
</table><ul>
<li><strong>The initially scheduled date was August 10th. However, as Kakao Pay's listing date was set for August 12, Krafton could not easily finalize the listing date due to the issue of mutual interference for retail investors with Kakao Pay.</strong></li>
<li><strong>The fact that Krafton confirmed the listing date as soon as Kakao Pay's listing schedule was delayed shows how sensitive Krafton was to this retail interference issue.</strong></li>
</ul><div class="content-highlight">
<p>The listing date of Kakao Bank is August 5, and there is a gap of 3 business days until the listing date of Krafton. However, in this case, Krafton is in a position to absorb retail demand from Kakao Bank. More importantly, Kakao Bank must draw less attention from retail investors than Kakao Pay in terms of business nature, so there is no need to worry too much about potential interference with Kakao Bank.</p>
<p><strong>And then, at least until the end of August, there is no major listing. That is, there is enough temporal buffer for Krafton to drive retail demand.</strong></p>
</div>

Listing dateThe listing date of Krafton has been confirmed as August 10th.





Krafton IPO schedule

Book open
2021. 7. 14


Book close
2021. 7. 27


Allotment
2021. 7. 29


Subscription
2021. 8. 2


Payment
2021. 8. 5


Listing
2021. 8. 10


 - Kakao Bank's listing
2021. 8. 5

Source: DART


The initially scheduled date was August 10th. However, as Kakao Pay's listing date was set for August 12, Krafton could not easily finalize the listing date due to the issue of mutual interference for retail investors with Kakao Pay.
The fact that Krafton confirmed the listing date as soon as Kakao Pay's listing schedule was delayed shows how sensitive Krafton was to this retail interference issue.

The listing date of Kakao Bank is August 5, and there is a gap of 3 business days until the listing date of Krafton. However, in this case, Krafton is in a position to absorb retail demand from Kakao Bank. More importantly, Kakao Bank must draw less attention from retail investors than Kakao Pay in terms of business nature, so there is no need to worry too much about potential interference with Kakao Bank.
And then, at least until the end of August, there is no major listing. That is, there is enough temporal buffer for Krafton to drive retail demand.


Krafton Listing Date Confirmed as August 10th: Rebalancing Trading Timeline

Event-Driven

KRX BBIG IndexThe KRX BBIG K-New Deal Index contains 12 stocks, listed either on the KOSPI or KOSDAQ market, three leading companies in each of the four industries. Each of the four industries also has its own index containing 10 constituents. So, we have one mother index (BBIG) and four sub-indices representing each of the four industries.
Secondary Battery

Bio

Internet

Game
Rebalancing: The top-three largest full market cap stocks from the Secondary Battery, Bio, Internet, and Game are selected for rebalancing in March and September. It is biannually reconstituted. Rebalancing occurs on the trading day following the last trading day of the March and September delivery month for KOSPI 200 futures contracts.





Rebalancing schedule

Rebalancing cycle
Semi-annually


Rebalancing month
March and September


Implementation date
The trading day following the last trading day for KOSPI 200 futures contracts


Next implementation date
September 10, 2021


Rebalancing trading
At the close on September 9, 2021


Screening base date
The last trading day of the month preceding the date of regular rebalancing


Screening period
The three months preceding the screening base date

Source: KRX &amp; WISE Index

Index weight: The BBIG Index is an equal-weight index in which each index constituent is allocated the same weight (8.33%) at each rebalancing. As for the four sub-indices, the top-three largest full market cap stocks are given the weight of 75%, in which each stock is allocated the same weight of 25% at each rebalancing. In contrast, the remaining seven constituents are given the remaining weight of 25%, where their float-adjusted market cap weights them.







Index calculations
BBIG
Four sub-indices


Number of constituents
12
10


Index weight
Equal-weighted at 8.33%

Top 3 (by full market cap): Equal-weighted at 25% The remaining 7: float-adjusted market cap-weighted totaling 25%



Source: KRX &amp; WISE Index

The mother index and battery sub-index have an AUM that is not small considering the number of constituents. BBIG has an AUM of ₩520B as of today, and its battery is ₩760B. Bio is about ₩100B. However, Internet and Game do not have meaningful AUMs.








ETFs tracking BBIG indices
Index
Ticker
AUM


Mirae Asset TIGER KRX BBIG K-New Deal ETF
BBIG
364960
₩480.9B


Hana Financial Investment Hana KRX BBIG K-New Deal ETN 3
700003
₩10.5B


TIMEFOLIO TIMEFOLIO BBIG Active ETF
385710
₩26.9B


- Total
-
₩518.3B


Mirae Asset TIGER KRX Second Battery K-NewDeal ETF
Secondary Battery
364980
₩759.7B


Mirae Asset TIGER KRX BIO K-New Deal ETF
Bio
364970
₩97.6B


Mirae Asset TIGER KRX Internet K-New Deal ETF
Internet
365000
₩49.2B


Mirae Asset TIGER KRX Game K-New Deal ETF
Game
364990
₩35.7B

Source: KRX

The screening period is the three months preceding the screening base date. So, the screening period this time is June 1 to August 31. Below is the daily average market cap from June 1 to July 19 and the index weight as of July 19.








BBIG
Weight, as of July 19
Average daily full market cap (June 1~July 19)
30-day average daily trade value


Kakao Corp
12.34%
₩66,478.6B
₩846.3B


Kakao Games Corp
11.59%
₩4,805.8B
₩244.2B


Naver Corp
8.96%
₩65,954.1B
₩388.6B


Samsung Biologics Co Ltd
9.13%
₩56,359.3B
₩77.4B


Samsung SDI Co Ltd
8.15%
₩46,995.6B
₩216.7B


Netmarble Corp
8.18%
₩11,730.2B
₩52.7B


SK Biopharmaceuticals
7.70%
₩9,681.8B
₩55.4B


SK Innovation Co Ltd
7.38%
₩25,451.8B
₩256.9B


LG Chem Ltd
7.11%
₩58,759.0B
₩197.2B


Celltrion, Inc.
6.61%
₩33,438.9B
₩149.8B


Douzone Bizon Co Ltd
6.22%
₩2,600.1B
₩21.1B


NCSoft Corp
6.57%
₩18,199.9B
₩70.1B

Source: KRX &amp; TIGER ETF











Sub-indices
Weight, as of July 19
Average daily full market cap (June 1~July 19
Float-adjusted market cap
30-day average daily trade value

Battery

LG Chem Ltd
21.89%
₩58,759.0B
₩38,763.3B
₩197.2B


Samsung SDI Co Ltd
25.07%
₩46,995.6B
₩34,335.0B
₩216.7B


SK Innovation Co Ltd
22.75%
₩25,451.8B
₩14,161.4B
₩256.9B


Posco Chemical Co Ltd
8.25%
₩9,112.5B
₩3,413.5B
₩63.8B


SKC Co Ltd
6.00%
₩5,640.2B
₩3,014.7B
₩57.0B


Ecopro BM Co Ltd
5.13%
₩4,604.0B
₩3,037.2B
₩71.4B


Iljin Materials Co Ltd
2.93%
₩3,269.7B
₩1,518.1B
₩24.5B


L&amp;F Co., Ltd.
3.52%
₩2,639.3B
₩1,564.8B
₩75.3B


SoulBrain Co Ltd
2.49%
₩2,539.3B
₩1,358.8B
₩10.2B


Chunbo Co Ltd
1.87%
₩1,929.2B
₩799.1B
₩30.8B

Bio

Samsung Biologics Co Ltd
29.94%
₩56,359.3B
₩13,954.6B
₩77.4B


Celltrion, Inc.
21.64%
₩37,030.6B
₩28,069.2B
₩149.8B


Celltrion HealthCare Co Ltd
10.06%
₩18,089.2B
₩10,956.6B
₩91.0B


SK Biopharmaceuticals Co Ltd
25.20%
₩9,681.8B
₩3,291.8B
₩55.4B


Celltrion Pharm Inc
2.35%
₩5,629.5B
₩2,512.4B
₩76.2B


Hanmi Science Co Ltd
1.56%
₩5,073.4B
₩1,610.3B
₩34.6B


Yuhan Corp
3.00%
₩4,454.7B
₩3,331.2B
₩14.6B


Shinpoong Pharmaceutical Co Ltd
2.07%
₩3,919.5B
₩2,390.5B
₩395.7B


Green Cross Corp
1.61%
₩3,808.6B
₩1,754.3B
₩23.1B


Seegene Inc
2.53%
₩3,927.5B
₩2,664.4B
₩289.6B

Internet

Kakao Corp
34.95%
₩66,478.6B
₩48,502.8B
₩846.3B


Naver Corp
25.47%
₩65,954.1B
₩53,106.2B
₩388.6B


Douzone Bizon Co Ltd
17.72%
₩2,600.1B
₩1,613.4B
₩21.1B


KMW Co Ltd
6.08%
₩2,144.3B
₩1,353.5B
₩13.0B


NHN KCP Corp
3.21%
₩1,365.8B
₩730.7B
₩9.5B


AfreecaTV Co Ltd
4.68%
₩1,294.1B
₩891.0B
₩16.8B


Ace Technologies Corp.
2.45%
₩786.2B
₩600.2B
₩11.5B


Seojin System Co Ltd
2.31%
₩811.4B
₩544.8B
₩11.1B


Ahnlab Inc
1.77%
₩703.2B
₩409.1B
₩7.2B


Rsupport Co Ltd
1.34%
₩497.3B
₩261.1B
₩29.1B

Game

NCSoft Corp
18.73%
₩18,199.9B
₩7,753.2B
₩70.1B


Netmarble Corp
23.34%
₩11,730.2B
₩3,657.5B
₩52.7B


PearlAbyss Corp
9.46%
₩4,587.3B
₩3,755.6B
₩45.2B


Kakao Games Corp
33.10%
₩4,805.8B
₩2,047.3B
₩244.2B


Com2uS Corp
3.91%
₩1,627.3B
₩1,022.8B
₩19.8B


NHN Corp
3.08%
₩1,552.2B
₩708.1B
₩9.6B


Doubleu Games Co Ltd
2.06%
₩1,160.4B
₩567.4B
₩7.6B


Webzen Inc
2.48%
₩1,094.4B
₩641.6B
₩9.5B


Wemade Co Ltd
2.00%
₩949.2B
₩505.4B
₩16.0B


Neptune Co
1.76%
₩815.4B
₩420.4B
₩6.5B

Source: KRX &amp; TIGER ETF



KRX BBIG Rebalancing Complete Preview: SK Bioscience, SK IE Tech, Krafton, Kakao Games, & Kakao Pay

South Korea

Krafton, Inc. operates as a game development company. The Company develops console games, mobile games, computer games, and other related products. Krafton markets its products throughout South Korea.

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Krafton (259960 KS)

Krafton Bookbuilding Last Day: Institutional Mood So Far

This post summarizes the institutional mood of Krafton's bookbuilding based on what Krafton said in yesterday's press conference and what the...

Sanghyun Park

Krafton IPO - A Few Thoughts on Its IP and the Tencent Relationship

If Krafton manages to price at the top end of its range or above as rumoured we think that would be a fantastic opportunity for investors...

Mio Kato

Major Highlights of Krafton's Online Press Conference & Focus on Overseas M&As Post IPO

Krafton held an online press conference today. The key focus of the online press conference was that Krafton will be aggressive in overseas...

Douglas Kim

Krafton Listing Date Confirmed as August 10th: Rebalancing Trading Timeline

The listing date of Krafton has been confirmed as August 10th. So, this post examines the index rebalancing trading timeline.

Sanghyun Park

KRX BBIG Rebalancing Complete Preview: SK Bioscience, SK IE Tech, Krafton, Kakao Games, & Kakao Pay

This post is a complete preview of the KRX BBIG rebalancing, featuring SK Bioscience, SK IE Technology, Kakao Games, Krafton, Kakao Pay, SD...

Sanghyun Park

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