Analysts have highlighted the success of Stellar Blade and Nikke as the reason behind Shift Up‘s excellent debut in South Korea’s stock market. The studio has already raised over $315 million in its initial public offering (IPO), and following its first day of trading, Shift Up’s shares were up by 18 percent.
Analysts point to the worldwide success of Stellar Blade and Nikke
As reported by Nikkei Asia, Shift Up’s IPO was the second biggest of 2024 thus far in South Korea. And according to Bloomberg, it was South Korea’s largest IPO for a gaming company in nearly three years.
Analysts say that Stellar Blade and Nikke are the prime reasons Shift Up has attracted strong interest from investors. The studio’s relationship with major publishers like Sony Interactive Entertainment and Tencent has also been credited for the successful IPO.
“Both IPs have been successful in various international territories,” said Daishin Securities analyst Lee Jee-eun, per Nikkei. “As the company has globally hit IPs, we expect the company to continue to work with leading global publishing partners such as Tencent and Sony.”
Shift Up CEO and founder Kim Hyung-tae remains the company’s biggest shareholder, followed by Tencent. The developer has previously expressed an interest in making a Stellar Blade sequel.
