Lee & Ko successfully advised the underwriting group in relation to Initial Public Offering (IPO) and the listing of Kakao Games on KOSDAQ. The offering was made on the firm commitment basis through an underwriting group consisting of Korea Investment & Securities Co., Ltd. and Samsung Securities Co., Ltd as Co-Lead Managers and KB Securities Co., Ltd. as the Underwriter. The offering price was fixed at the higher end of the band, which caused the competition rate for Kakao Games’ general IPO subscription to hit 1,524.85:1. After the public listing, the stock price for Kakao Games sored for two days in a row with its market capitalization becoming the fifth largest on the KOSDAQ Market. The debut of Kakao Games on KOSDAQ is undeniably one of the most successful KOSDAQ public listings in 2020. Lee & Ko’s IPO team, including Wonsik Choo, Junwoo Cho, Sangmin Kim, and Jiseon Kim, assisted the underwriting group throughout the whole process, from preparing for the preliminary examination of listing by Korea Exchange and conducting the due diligence on the entire company to drafting, reviewing for second times, and submitting the application and the registration statement. The team also provided countless legal advice on many complex and unexpected issues.