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Japan's Nexon sees lukewarm response to $1.2bn float | |
(about 9 hours later) | |
Japanese online gaming company Nexon received a lukewarm response from investors to its $1.2bn (£775m) initial public offering, Japan's biggest this year. | Japanese online gaming company Nexon received a lukewarm response from investors to its $1.2bn (£775m) initial public offering, Japan's biggest this year. |
At the end of trading in Tokyo, shares in Nexon closed at 1,270 yen, down from its flotation price of 1,300 yen. | |
Nexon game titles include Maplestory and Zombie Misfits. | Nexon game titles include Maplestory and Zombie Misfits. |
The game creator is a fast-growing rival to US-based Zynga, which makes its trading debut on Friday. | The game creator is a fast-growing rival to US-based Zynga, which makes its trading debut on Friday. |
Nexon's online games are free, but the company generates revenue through the sale of virtual goods, including uniforms or weapons. | Nexon's online games are free, but the company generates revenue through the sale of virtual goods, including uniforms or weapons. |
Chinese prospects | Chinese prospects |
The company made 31% of its revenue from gamers in China last year, compared with 35% from South Korea and 18% from Japan. | The company made 31% of its revenue from gamers in China last year, compared with 35% from South Korea and 18% from Japan. |
Analysts said one of its main attractions to investors could be its following in China, which is expected to be the world's largest online-game market by 2014. | Analysts said one of its main attractions to investors could be its following in China, which is expected to be the world's largest online-game market by 2014. |
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