Advising Shiftup on its IPO

Lee & Ko acted as legal advisor to the lead arrangers in the IPO of Shiftup. 

Shiftup's IPO was one of the largest IPOs in 2024 with an offering size of KRW 435 billion. As a company that owns the IP of games that enjoy a reputation in the global market such as Nikke and Stellar Blade, Shiftup received a great deal of attention from domestic and foreign markets starting from the IPO preparation stage. NH Investment & Securities, Korea Investment & Securities, and JP Morgan participated as lead managers. The IPO was conducted through an overseas parallel public offering. The IPO was successfully completed in July 2024.

Lee & Ko was Korean legal counsel to the lead sponsors and provided advisory services to the lead sponsors during the IPO process, including legal due diligence, review of documents related to domestic and international public offerings, including securities filings and offering circulars. Lee & Ko's experts were recognized for their timely and accurate advice on various issues during the IPO process and contributed to the successful completion of the IPO. In addition to Shiftup's IPO, Lee & Ko has been actively advising other clients in the equity capital market sector, including the IPO of KB Balhae Infrastructure Company in the second half of 2024, which was the first IPO of KB Balhae Infrastructure Company in 20 years as an investment company, as well as the IPOs of iMBDX, SChem, and K3I.