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South Korean game developer DoubleDown Interactive sets terms for $198 million US IPO

Administration 2020.06.19

DoubleDown Interactive, which is a leading developer and publisher of mobile- and web-based casual casino games, announced terms for its IPO on Thursday.

The Seoul, South Korea-based company plans to raise $198 million by offering 11 million ADSs (50% insider) at a price range of $17 to $19. At the midpoint of the proposed range, DoubleDown Interactive would command a market value of $896 million.

DoubleDown Interactive was founded in 2008 and booked $281 million in sales for the 12 months ended March 31, 2020. It plans to list on the Nasdaq under the symbol DDI. J.P. Morgan and BofA Securities are the joint bookrunners on the deal. It is expected to price during the week of June 29, 2020.

 
 

The article South Korean game developer DoubleDown Interactive sets terms for $198 million US IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO)Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.