Report: Nexon To File $1.3B IPO Next Month

Seoul-based online game publisher Nexon is heading for an initial public offering on the Tokyo Stock Exchange next month, according to media reports. Japanese business newspaper Nikkei, as translated by TechCrunch, is reporting that the company is aiming to raise ¥100 billion ($1.3 billion) in total as part of the IPO, after moving its headquarters to Tokyo earlier this year. This would make Nexon's IPO the biggest that Japan has seen this year. Companies that will reportedly manage the offering include Nomura Securities, Morgan Stanley and Goldman Sachs, and Nexon is expected to be approved for the listing sometime this week. The report follows Nexon America's third quarter fiscal results earlier this month, with the company seeing a 29 percent revenue growth year-over-year. Nexon said the main highlight for the quarter was the launch of Eyedentity Games-developed online action-MMO Dragon Nest.