Back in April, Tencent subsidiary Netmarble raised $2.3 billion in shares sold to investors during the first phase of its IPO, helping it reach a total company value of $11.8 billion and marking it as the second-largest initial public offering in the country’s history. Today, however, the company went fully public as it made its trading debut on the Korea Exchange, and the public… well, they like it. They really, really like it.
“Shares in the mobile game developer and publisher ended 3.2 percent higher at 162,000 won in Seoul, after rising as high as 9.2 percent above the initial public offering price,” Bloomberg reports. “The company now has a market value of about 13.7 trillion won ($12.2 billion), surpassing LG Electronics Inc.”
Yes, the company that makes mobile MMO Lineage II: Revolution is now worth more than the company that makes the phones you probably play it on.