Following the launch of Stellar Bladethe next big goal of SHIFT UP was to enter the stock market. After some obstacles, the company has now succeeded and its top leader has reassured fans of his works who have doubts about the company’s future.
Although it raised suspicions about his business due to the risks it could pose for investors, SHIFT UP Today, as part of the celebrations of the 11th anniversary of its founding, it finally managed to be listed on the Korean Stock Market through an initial public offering (IPO) which issued 7.3 million shares, each worth $51.54 USDwhich made him reach $320 million.
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It’s about the IPO biggest for a South Korean video game company in 3 years and also the biggest of 2024 overall just below that of HD Hyundai Marine Solution Co.which reached the $553 million in the middle of the year, according to information from Bloomberg. To put it in context, in 2021 the South Korean video game company KRAFTON He did the same and achieved $3.8 billion in its initial offer.
“We couldn’t have done it without the support of so many people. We are sincerely and deeply grateful,” he said. Hyung-Tae in a message through Twitter (X)for which displays of support and congratulations were not long in coming, and among the many fans, the head of the group appeared again. PlayStation Shuhei Yoshida.
Fans predict the fall of SHIFT UP after raid on the Stock market
This event gave fans and followers a lot to talk about. SHIFT UP also for the worse, since in forums like reddit They said that these types of companies do not lead to a good outcome, but rather represent a detriment to the companies’ business while harming their relationship with the user.
Just look at the featured post on the subject at redditin which many comments are seen in the vein of doomposting that predict the fall of SHIFT UP and that everything will get worse due to the interference of the shareholders and their decisions taken solely in favor of money; there are very few who give a vote of confidence to SHIFT UP and they ask to have faith in him.
SHIFT UP He reiterated that he will not lose sight of the fans
The man of culture, founder, developer, and CEO of the studio, Kim Hyung-Taeis aware of the concerns and, as he did days ago, reaffirmed his commitment to the fans and asked for their support as they have given him until now.
“We recognize that registration is a process, not a goal. We will remain calm and focused on make great games“, added the founder. “To achieve this, we will need your help and support, just as we have done until now. We look forward to your continued support.“.
In case you missed it: SHIFT UP has big plans for the short and long term.
We must remember that Hyung-Tae and his wife, Ji-yun Chaestill hold the majority of the shares, so although external shareholders are involved in the direction of the company, it is these 2 people who have the final say on it. The shares of Hyung-Tae would be equivalent to around $1.2 MMDD. The second largest shareholder remains Tencent Holdings.
Many fans have also expressed great concern about the possible interference of shareholders who try to Americanize or introduce Western ideas to the South Korean studio. However, it is important to say that buying shares in SHIFT UP It is not that simple, since it is only listed on the Korean Stock Market and participation by foreign shareholders is not permitted, only from the region.
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