Massively http://massively.joystiq.com Massively http://www.blogsmithmedia.com/http://massively.joystiq.com/media/feedlogo.gif Massively http://massively.joystiq.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Nexon's Japanese IPO aims at raising $1.3 billion]]>http://massively.joystiq.com/2011/11/08/nexons-japanese-ipo-aims-at-raising-1-3-billion/http://massively.joystiq.com/2011/11/08/nexons-japanese-ipo-aims-at-raising-1-3-billion/http://massively.joystiq.com/2011/11/08/nexons-japanese-ipo-aims-at-raising-1-3-billion/#commentsFiled under: , ,

Nexon
When Nexon is finally added to the Tokyo Stock Exchange in December, the company has to be planning a massive "We're in the money!" song-and-dance to celebrate. TechCrunch reports that this will be the biggest IPO in Japan in 2011, with a corporate goal of raising $1.3 billion (100 billion yen) from the listing.

The Korean company recently moved its headquarters from Seoul to Tokyo, and is well-known for its popular MMOs such as MapleStory, Mabinogi, and Vindictus. Nexon has over 3,000 people in its employ across the world, and previously said that it is open to purchasing more companies in Japan after the IPO.

The company commented on its post-IPO strategy in a brief statement: "As we pursue our strategic objectives, we regularly review our options for accelerating our growth. We have made no decisions or announcements about any specific financing or other plans and cannot comment on rumors."

The IPO will be handled by Nomura Securities, Morgan Stanley, and Goldman Sachs. Nexon is hoping that the move will raise its market cap to $9 billion, which will make it the biggest online gaming company listed on the Tokyo Stock Exchange. The company is currently worth $7.7 billion.

MassivelyNexon's Japanese IPO aims at raising $1.3 billion originally appeared on Massively on Tue, 08 Nov 2011 11:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>Goldman-Sachsinitial-public-offeringipomabinogimaplestoryMorgan-StanleynexonNomura-Securitiesstockstock-exchangestockstokyo-stock-exchangevindictusTue, 08 Nov 2011 11:00:00 EST<![CDATA[How legal are virtual banks and stock exchanges?]]>http://massively.joystiq.com/2007/12/07/how-legal-are-virtual-banks-and-stock-exchanges/http://massively.joystiq.com/2007/12/07/how-legal-are-virtual-banks-and-stock-exchanges/http://massively.joystiq.com/2007/12/07/how-legal-are-virtual-banks-and-stock-exchanges/#commentsFiled under: , , ,

A recurring question, amid the forest of what might be legitimate failures and mismanaged enterprises or might just be scams, is just how legal are the banks and stock exchanges that operate alongside and inside various MMOs and Virtual Worlds such as Second Life.

As seems to be usual with legal matters, a simple question doesn't yield a simple answer.

Continue reading How legal are virtual banks and stock exchanges?

MassivelyHow legal are virtual banks and stock exchanges? originally appeared on Massively on Fri, 07 Dec 2007 01:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>asicbankeconomyginkolegalopinionsecond-lifestock-exchangeworld-stock-exchangewseFri, 07 Dec 2007 01:00:00 EST<![CDATA[WSE issues again]]>http://massively.joystiq.com/2007/11/03/wse-issues-agai/http://massively.joystiq.com/2007/11/03/wse-issues-agai/http://massively.joystiq.com/2007/11/03/wse-issues-agai/#commentsFiled under: , , ,

MoneyThose of you who are following over from Second Life Insider will know that the Worlds Stock Exchange (WSE) has a long and spotty history. Including being hacked, announcements that criticise the system vanish, there are some odd seeming deals done, and the whole set up is, apparently, questionable at best under Australian Law.

The latest part of the saga: Midas Bank has invested a chunk of its money in Hope Capital Bonds and Hope Capital, the owner of WSE has defaulted on payments worth over L$650,000, which is making Midas Bank struggle with a cash flow crisis. Last time we had one of those, Ginko Financial collapsed. Midas Commons, CEO of Midas Bank, proposed a boycott of WSE until such time as their due payments are made - a situation met with some support from other customers in this state. Given the previous history it is little surprise to find there are no announcements about Hope Capital Bonds not paying, but all the Midas Group stocks are suspended with a one line "pending an important announcement" statement. Where will this particular cash flow crisis end up, anyone care to guess?

[Via SLReports]

MassivelyWSE issues again originally appeared on Massively on Sat, 03 Nov 2007 17:01:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>economyGinkoGinko-FinancialHope-Capital-BondsMidas-GroupSecond-Lifestock-exchangeWSESat, 03 Nov 2007 17:01:00 EST