Asia

‘Nikke’ huge shift up, application for KOSPI listing preliminary review

Published

1 year ago

March 14, 2024

Peter Tolan

Reading Time: < 1 minute

Shift Up, which achieved box office success with its masterpiece ‘Goddess of Victory: Nike’, is listed on KOSPI.

The Securities Market Division of the Korea Exchange announced on the 5th that Shift Up (CEO Kim Hyeong-tae) received an application for preliminary review of stock listings for new listings. The joint lead managers are Korea Investment & Securities, NH Investment & Securities, and JP Morgan Securities Seoul Branch.

Shift Up is a game company established in December 2013 and is engaged in the development and supply of mobile and console game software. Recently, the representative work ‘Goddess of Victory: Nike’ recorded cumulative sales of about 1 trillion won, and the new work ‘Stella Blade’ is scheduled to be released on the PlayStation platform in April this year.

As of the third quarter of last year, Shift Up’s total assets were 171.9 billion won and equity capital was 139.3 billion won. As of the third quarter, cumulative annual sales were KRW 122.8 billion, operating profit was KRW 78.7 billion, and net profit was KRW 74.1 billion. As of the 5th, 9 people, including CEO Kim Hyeong-tae, hold 48.8% of Shift Up’s shares.

Source: Nico Partners / dailygame-co-kr

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Peter Tolan

Peter Tolan, a rising talent in the dynamic world of igaming content, serves as the Junior Content Editor at European Gaming. At European Gaming, Peter has quickly become an integral part of the editorial team. His keen understanding of the igaming landscape across Europe, combined with his skill in digital media, allows him to produce engaging and informative content. He specializes in analyzing trends in online gaming, esports, and emerging technologies in the igaming sector.