Stellar Blade and Nikke Developer Shift Up to Go Public

Stellar Blade and Goddess of Victory: Nikke developer Shift Up is planning to go public, as shown by a recent application from the company.

On March 5th, 2024, Shift Up applied to be listed on the Korea Stock Exchange, listing over 58 million shares for the company. Among those, the number of shares planned for sale in the upcoming public offering is 7.25 million, with it being priced at 200 Won (roughly RM0.71) per share.

According to the application, the listing will be arranged by Korea Investment and Securities, NH Investment and Securities, and JP Morgan’s Securities’ Seoul Branch.

The company valuation approached 2 trillion South Korean Won (roughly RM7 billion) in October 2023, as reported by GameLook. And now with the company going public, Korean analysts expect Shift Up to to reach a valuation of 3 trillion South Korean Won (roughly RM10 billion).

As Goddess of Victory: Nikke only continues to grow in success, and a highly anticipated Stellar Blade still being in development, Shift Up would seem to only increase in revenue for the foreseeable future.

Shift Up is a South Korean game development company that was founded in 2013. The company’s first came to light with the launch of the mobile game Destiny Child.

In November 2022, Shift Up released Goddess of Victory: Nikke, which was instantly extremely successful upon its launch, garnering over $70 million just in its first month.

Currently, the studio is working on Stellar Blade, a third-person action-adventure title that is slated to release on the PS5 on April 26th, 2024.

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