(Seoul=NSP News Agency) soon ki Lee Journalist = DoubleDownInteractive(NASDAQ DDI, CEO Kim In-geuk), a subsidiary of DoubleUgames, entered the NASDAQ on the 31st (US time) with an offering price of $18.
It started trading at $18 and closed at $17.75 on the first trading day with a trading volume of 3.4 million shares. Based on the IPO price, the market cap is 892 million dollars, which is equivalent to 1 trillion won in Korean won. The ticker name is DDI.
Through this listing, DoubleDownInteractive has been able to successfully raise 100 billion won in new stock offerings. The issuance volume of this public offering is ADR 5,263,000 shares, and the sales volume of old shares is ADR 1,053,000 shares.
This listing is attracting the attention of investment industry officials as it is the first successful direct listing of a Korean company on the Nasdaq by ADR method in 16 years. The last case of a Korean-based corporation listed through ADR was Gravity, a game company, in 2005.
DoubleDownInteractive’s sales, which were $274 million at the end of 2019 on a consolidated basis, surged more than 30% to $358 million at the end of last year, and are continuing their booming trend, recording $190 million in sales in the first half of this year. EBITDA also increased from $102 million in 2019 to $120 million at the end of last year, and reached $64 million in the first half of this year.
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