This would delay the listing, sources said. The regulator was reviewing the company's listing documents but had not identified any major issue, one of the sources said.
\"Krafton<\/a> plans to revise IPO registration statements in response to the Financial Supervisory Service's request,\" the company told Reuters in a text message, but declined to comment on the IPO's delay.
The delay of the Krafton IPO<\/a>, set to be South Korea's biggest ever, could be for up to a fortnight as a result of the regulatory review, according to two people with direct knowledge of the matter. The developer of the smash-hit game PlayerUnknown's Battlegrounds was due to list on the Korean stock exchange in mid-July.
The two people could not be named as the information was not yet made public.
In a regulatory filing on Friday, Krafton said that the FSS requested the company to resubmit the IPO registration statement because it considered the company's filing to have fallen into one of three possible categories: not have had a proper format; contained false information or an omission of important facts; or included unclear statements that might undermine investors' reasonable judgment or lead to serious misunderstanding.
If the company does not submit the revised registration statement within three months, the previously submitted statement will be considered withdrawn, according to local regulations.
Krafton had been pressing on with its IPO, meeting investors over the past fortnight and was due to hold more briefings this week before the deal was delayed, one of the people said.
In a regulatory filing on June 16, the PUBG<\/a> developer said it expected to offer 10 million shares—or 7 million new shares and 3 million existing shares—at an indicative range of 458,000-557,000 won per share.
The IPO would have valued the company at about $30.9 billion.
At $5 billion-plus, Krafton would become the biggest IPO in South Korea since the 4.9 trillion won ($4.4 billion) float of Samsung Life Insurance<\/a> in 2010, exchange data shows.
Krafton's second largest shareholder is Tencent Holdings Ltd.<\/a>, which owns 15.35% of the company through an investment vehicle, according to the IPO filings.
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