Business Top Stories

Controlling Share In NXC Corp To Be Sold By Nexon Founder

The founder of Nexon, a South Korean gaming firm, is ready to trade a controlling share worth about $9 Billion (approximately Rs 63,000 Crores) in the holding company of Nexon, NXC Corp, as per a recent report by the Korea Economic Daily newspaper.

The worth of the share up for trade was projected at KRW 10 Trillion (that is, $8.9 billion), as mentioned by the paper, citing anonymous sources from the industry. Nexon is recorded on the Tokyo stock market. Stakes of Nexon members comprising Nat Games Co Ltd and Nexon GT Co Ltd soared as much as 30% on the media report.

According to the report, Morgan Stanley and Deutsche Bank have been chosen to handle the sale. The likely purchasers consist of domestic industry competitors Netmarble Corp and Kakao Corp, as well as Tencent Holdings, the Chinese tech giant, and Electronic Arts, the US video game publisher as reported by the newspaper.

An analyst at Samsung Securities, Oh Dong-hwan, said, “As the worth of the share of the firm will be huge, there would be very few purchasers with the capability to buy Nexon.” Kim Jung-ju, the founder of Nexon, would trade a sum of 98.64% share in NXC Corp possessed by himself and associated parties consisting of his wife, as per the media report.

On the other end, recently a test version has been released by Tencent Holdings of a 3rd-party built smartphone game in China founded on Games of Thrones, a famous US television show, boosting its channel that has been strike by government restraints on online gaming.

The game, dubbed “Game of Thrones: Winter is Coming,” was designed by Yoozoo, the Chinese games maker, as announced in a statement by Tencent Games on its official WeChat account. The company, 2nd largest firm by market value in the world, inked an agreement in 2014 to gain the exclusive rights to present “Game of Thrones” online in the country.

About the author

Jamie Jones

The Business department at Global News Journal is handled and managed by Jamie. she has 5 plus years of experience in the related sector. She has done her Masters in Business Administration and hence is a perfect fit for this job. If anybody has any doubt in the business section, they look up at Jamie. And she totally solves it. In her free time, Jamie loves sipping coffee at her favorite coffee shop.

Leave a Comment