Black Desert Online Developer Pearl Abyss Prepares For IPO

Korean media site Pulse is reporting that Black Desert Online developer Pearl Abyss is preparing for its initial public offering on Korea's Kosdaq, which is set to occur later this year. Prior to this announcement, South Korean company Daishin Private Equity made an equity investment worth approximately $6.3 million in the company. Korea Investment & Securities Co. acquired its own ~1% stake in the company last July, an investment that totaled 5 billion won, or approximately $4.4 million, placing estimates of the company's worth at 550 billion won, or approximately $488.8 million.

Other interesting notes include the fact that the game is apparently more popular among Americans and Europeans than Koreans. Pearl Abyss' net profits for the first half of last year totaled 26 billion won, or approximately $23.1 million, which is more than it made in all of 2015.

Daishin Private Equity has stated that it intends to keep its stake in Pearl Abyss following this year's IPO. It remains to be seen whether Korea Investment & Securities Co. will, as well.