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Krafton Files For IPO; PUBG India’s Comeback On Back Burner? Gaming
Donna Amo
Posted on 09 Apr, 2021
By Donna Amo
On 09 Apr, 2021
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By Donna Amo
On 09 Apr, 2021
Share

Krafton Files For IPO; PUBG India’s Comeback On Back Burner?


Krafton, the parent firm of PlayerUnknown’s Battlegrounds (PUBG) filed for an initial public offering (IPO) in South Korea. It was then discovered that the Chinese company Tencent is the second-largest stakeholder of Krafton with 15.5 percent stake. Krafton’s founder Chang Byung-gyu is the company’s largest stakeholder with a 16.4 percent stake. As per reports, Krafton is valued at around USD 17.92 Billion.

This information is important as it is highly possible that Tencent’s stake may be a hindrance for PUBG Mobile’s relaunch in India. In September 2020, the government of India banned Chinese owned apps in the country. Tencent’s holding in PUBG was stated to be a major cause of the app being banned in the country.

ALSO READ: PUBG Banned In India; Tencent Loses Distribution Rights

Tencent is a giant in the gaming space, the brand owns big gaming companies like Riot Games and Supercell. Due to this association, both the companies keep a low profile in the country. Popular games like League of Legends and Clash of Clans are owned by these two companies respectively. Esports tournaments for these games are handed over to other esports organizers to avoid potential bans like it was for PUBG Mobile.

It should also be noted that along with Tencent being the second-largest stakeholder in Krafton, many of its employees were also hired by Krafton after the ban. Aneesh Aravind, Krafton’s current country head is also among these.

Despite the ban, the Indian viewership for PUBG Mobile is still the second-largest in the world. In the Indian Gaming Show and Conference 2021, Head Corporate Development at Krafton, Sean Hyunil Sohn hinted at the return of PUBG Mobile in India. Sohn commented, “I cannot really tell timing or anything because we don’t know yet. We care about the Indian market greatly. We will work hard to make it happen.”

ALSO READ: Tencent’s Timi Gaming Studio Makes USD 10 Billion In Revenue

PUBG Mobile’s return in India is highly anticipated, it will be interesting to see how Krafton plans on tackling this. For more news and updates keep reading  GutshotMagazine.com. Follow us on our social media handles like FacebookInstagram, and Telegram.

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