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Japanese online gaming company Nexon sets IPO terms

November 10, 2011

Nexon, a Japanese developer of online games, announced terms for its IPO on Thursday. The South Korea-based company plans to sell 70 million shares at a price of ¥1,360 ($17.42). The deal is expected to raise about ¥95 billion ($1.2 billion) in what will likely be Japan's largest initial public offering this year and the country's first new issue since the Japan earthquake in March. Nexon, founded in 1994, has operations in South Korea, Japan, Luxembourg, and the United States. Nomura Securities, Morgan Stanley, and Goldman Sachs are the lead underwriters on the deal, which is expected to price during the week of November 28.