Nexon Co., the Asian developer of online games such as “Dragon Nest,” plans to raise as much as 100 billion yen ($1.3 billion) in an initial public offering, said two people with direct knowledge of the matter.
Nexon hired Nomura Holdings Inc. (8604), Morgan Stanley and Goldman Sachs Group Inc. (GS) to manage the offering in Japan, the U.S. and Europe, said the people, who declined to be identified before an announcement. The game maker will begin the IPO as soon as this week, and expects to list on the Tokyo Stock Exchange as early as Dec. 12, they said. The company is valued at about 600 billion yen, the people said.
The IPO would be the biggest by a Japanese company this year and the second largest in the technology industry worldwide in 2011, according to data compiled by Bloomberg. Tokyo-based Nexon and Gree Inc., whose shares have more than doubled this year, aim to benefit from the growing popularity of games that let people in different places play together on the Internet.