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Krafton shares close 9% down after PUBG maker’s IPO

  • Posted byby Dean Takahashi
  • Updated
  • 2 min

Krafton raised $3.75 billion in on public offering, but the maker of PlayerUnknown’s Battlegrounds (PUBG) saw its share price close 9% down in the first day of trading Tuesday.

The South Korean company tried to go out with a valuation that was too high, and investors balked, analysts told Reuters. The company debuted at $432 a share (498,000 won), but shares at the very outset traded at 9.9% below that price. They tumbled as much as 20% before recovering and closing down 8.8%. At the closing price, the valuation was $19.32 billion. The price for the initial shares was lower than the company had originally tried to launch at, but it evidently didn’t lower the price enough.

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Written by

Dean Takahashi

Dean Takahashi is editorial director for GamesBeat. He has been a tech journalist since 1988, and he has covered games as a beat since 1996. He was lead writer for GamesBeat at VentureBeat from 2008 to April 2025. Prior to that, he wrote for the San Jose Mercury News, the Red Herring, the Wall Street Journal, the Los Angeles Times, and the Dallas Times-Herald. He is the author of two books, "Opening the Xbox" and "The Xbox 360 Uncloaked." He organizes the annual GamesBeat Next, GamesBeat Summit and GamesBeat Insider Series: Hollywood and Games conferences and is a frequent speaker at gaming and tech events. He lives in the San Francisco Bay Area.