On the wings of enthusiasm for the next launch of Stellar Bladethe Korean team ShiftUp has decided to try the Korean stock market, aiming for a launch on the public market which could bring its valuation to $2.3 billion, according to some analysts.
The application was formally submitted on March 5, with the plan to market 58 million shares on the Korea Stock Exchange, with an IPO led by Korea Investment & Securities, NH Investment & Securities and the Korean arm of JP Morgan Securities .
Shift Up's overall valuation was about 2 trillion won, or about $1.5 billion, as of October 2023, around the time WeMade Entertainment sold 2 million shares it owned in the studio to Aceville, a subsidiary of Tencent, for 54 million dollars.
A 2.3 billion company?
According to Korean analysts, Shift Up's entry into the public market could bring the company an overall value of 2.3 billion dollarswhich could push the company further into the market.
This positive assessment would be driven above all by the continued success of Goddess of Victory: Nikke more than from the next launch of Stellar Blade, but considering how Sony is also focusing on the new action game, destined to be one of the main titles of the year for PS5, this also obviously represents a concrete element of boost for the visibility of the brand .
Shift Up was born in 2013 and is a South Korean team that initially made itself known through the fighting game Destiny Child for the mobile platform, then in November 2022 it achieved great notoriety thanks to the aforementioned Goddess of Victory: Nikke, a mobile game with gacha elements characterized by a large presence of rather flashy female characters, an element that seems to represent a constant also in Stellar Blade, as recently emerged from the protagonist's costumes.
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