SEOUL, Sept 30 Netmarble Games Corp, South
Korea's largest mobile games company backed by China's Tencent
Holdings Ltd, on Friday applied for preliminary
exchange approval for its planned initial public offering, the
Korea Exchange said.
The IPO is expected to be worth about 2 trillion won ($1.82
billion) and is expected between late 2016 and early 2017 to
finance acquisitions and investments by the company.
Tencent owns about 25 percent stake in Netmarble Games Corp,
making the Chinese firm the third-biggest shareholder in the
Netmarble Games had earlier mandated four banks, including
Citigroup Inc and JPMorgan Chase & Co to handle
($1 = 1,103.6000 won)
(Reporting by Hyunjoo Jin; Editing by Biju Dwarakanath)