The South Korean company Kakao Games has set a new record ahead of its upcoming IPO.
On Wednesday, at the end of the two-day public subscription session, Kakao Games was reportedly oversubscribed among retail investors by a multiple of 1,5-hundred the most of any IPO to date.
That's more than four times the previous record set earlier this year by SK Biopharmaceuticals.
Subscription deposits for shares in Kakao Games were estimated at nearly 49 billion U.S. dollars.
The company will sell a total of 16 million shares when it debuts on the KOSDAQ a week from now on September 10th.
20 percent of those shares are allocated for individual investors.