Krafton must re-file its registration statement for an Initial Public Offering (IPO) due to information that may be incorrect or missing, according to the Financial Supervisory Service (FSS).
The gaming company’s retail marketing period was set for July 14 and 15, and a postponement is now possible.
According to the FSS on Friday, it asked Krafton to submit a corrective registration statement because “the submitted statement was not prepared in accordance with the prescribed form for the statement.”
The regulator may request a restatement if there is a false description or representation of material facts in the registration statement or any omission of material facts, or if there is an uncertain description or representation of material facts in the statement. registration that may undermine a reasonable judgment about the investment or significantly mislead investors.
Mirae Asset Securities, an IPO underwriter, submitted the registration statement on June 16.
It is likely that the FSS asked the games company to clarify how it arrived at the bid price and provide evidence to prove its worth, according to several local reports.
The company has registered to offer 10,060,230 shares between 458,000 won ($ 406) and 557,000 won each. If the upper end of the range is reached, 5.6 trillion won of shares will be sold.
It would be Korea’s largest IPO to date, beating Samsung Life Insurance’s supply of 4.88 trillion won in 2010.
Krafton has three months to submit a corrective statement, after which the registration will be considered withdrawn.
BY SARAH CHEA [[email protected]]