[THE INVESTOR] South Korean mobile social casino game publisher ME2ON seeks to go public in October to raise some 30 billion won (US$26.8 million) for further expansion in the Asian and North American markets.

On Aug. 19, the mobile game developer submitted an application to the Financial Services Commission for its listing on the tech-heavy KOSDAQ market.

ME2ON will offer a total of 7,160,708 shares of common stock in an expected price range of 3,800 won to 4,300 won. 



The initial public offering price will be confirmed after the closing of a book-building period slated for Sept. 20 and 21.

Established in 2010, “Full House Casino” and “Fulpot Poker” are ME2ON’s flagship games, with both ranking high on the most played mobile casino game lists in Asian countries including Hong Kong, Singapore, Malaysia and Taiwan.

The company has shown strong growth numbers, exceeding 100 percent in the past two years.

It posted 16.8 billion won in sales and 5.6 billion won in operating profit on a consolidated basis in 2015.

If successful, the IPO will give fresh impetus to the firm, which seeks to bolster its global presence.

As part of the effort to strengthen its foothold in the Asian market, ME2ON is developing Chinese and Japanese versions of “Full House Casino” to enter those countries in the second half of this year. The company said it is also eyeing the North American market for further growth next year.

By Park Han-na (hnpark@heraldcorp.com)