Shares of Stellar Blade maker Shift Up surge almost 50% on trading debut

Hyung-Tae Kim, chief executive officer of Shift Up Corp., strikes the drum during the company’s listing ceremony at the Korea Exchange (KRX) in Seoul, South Korea, on Thursday, July 11, 2024. Game developer Shift Up is known for its mobile and computer games that include Goddess of Victory: Nikke and console game Stellar Blade. 

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Shares of South Korean video game developer Shift Up spiked almost 50% as the company debuted on the Kospi on Thursday.

The video game developer, which counts Chinese internet giant Tencent as its second largest shareholder, saw its shares climb as high as 89,500 South Korean won (about $64.89) apiece, a 49.17% gain from its initial public offering price of 60,000 won.