April 26, 2024

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South Korea’s game developer DoubleU Games will transfer its stock listing to the country’s main Kospi exchange this week, the bourse operator said on March 12.

The company, which has been listed on the country’s tech-laden Kosdaq bourse since 2015, is to make its debut on the upper-tier Kospi on Tuesday, according to the Korea Exchange.

Established in April 2012, the firm has developed and distributed software for online and mobile-based games. It, particularly, has focused on the development of social casino games, such as DoubleU Casino, which are available at 120 countries across the world.

In 2018, the game company logged 483 billion won (US$426.20 million) in sales, up 51 percent on-year, and reported 137.1 billion won of operating profits, which also spiked 137.1 billion won from the previous year, according to its regulatory filing.

By Ram Garikipati and newswires (ram@heraldcorp.com)