Nexon Founder, Chairmain Kim Puts NXC Up for Bid?: "Nexon and NXC Have No Official Statement As of Yet"

 

There were a number of recent reports regarding NXC chairman Kim Jung-Joo putting his company up for sale. NXC is a Japanese corporation, as well as Nexon Korea's holding company. Kim Jung-Joo holds 67.49% of the company shares while his wife, Yu Jung-Hyeon, holds 29.43%. 

On the 3rd, according to 'Hangook Kyeongjae', chairman Kim let go of the 98.64% share that he and his wife held. Deutsche Bank and Morgan Stanley will be the ones running the auction, with the reserve transaction set to happen next month. 

As of today (January 3rd), Nexon's market value stands at around $1.1 billion. NXC's holding share (47%) alone exceeds $500 million. According to the reports, the M&A transaction will exceed well over $9 billion.

▲ Kim Jung-Joo, NXC chairman


Since there will be a lot of money involved, it's very unlikely that a Korean company will get ahold of NXC. Many reports predict that major gaming companies from China such as Tencent are likely to take it over. 

A Nexon employee told Inven, "Nexon and NXC have no official statement to give as of yet."

At the same time, as the story regarding NXC spread throughout the media, companies related to Nexon saw large inflation in their stock prices. Today at 10:19 AM (KST), Nexon GT's stock prices saw a 29.98% increase compared to the day before. Nat Games also saw a similar increase of 29.44%. 

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