Beijing’s tech crackdown casts long shadow over South Korea’s biggest IPO in a decade

//Beijing’s tech crackdown casts long shadow over South Korea’s biggest IPO in a decade

Beijing’s tech crackdown casts long shadow over South Korea’s biggest IPO in a decade

Tencent Holdings-backed Krafton, developer of hit game PUBG: Battlegrounds , plunged in its trading debut on Tuesday, after raising US$3.8 billion in South Korea’s largest initial public offering in more than a decade, amid Chinese state media’s latest broadside against the video gaming industry.Seoul-based Krafton’s shares dropped as much 20 per cent in early trading before they closed down about 9 per cent, souring the mood for both investors and fans of PUBG.Chinese state media’s recent…

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By | 2021-08-10T13:00:15+00:00 August 10th, 2021|Technology|Comments Off on Beijing’s tech crackdown casts long shadow over South Korea’s biggest IPO in a decade