LINE Games Issues Third-Party Allotment of Shares to Subsidiary of Anchor Equity Partners (Asia) Limited2018-10-30 18:03
LINE Games Corporation ("LINE Games"), an affiliate company of LINE Corporation (“LINE”) specializing in game business, announced that it has raised KRW 125 billion through third-party allotment to Lungo Entertainment Ltd., founded by global investment firm Anchor Equity Partners (Asia) Limited.
LINE Games was established in June 2017 to fortify LINE's game business through developing and operating mainly mid-hard core game contents in its pursuit to expand globally with focus on its core markets, Japan, Korea, Thailand, and Taiwan.
In August 2017, game developer NextFloor Corporation became a consolidated subsidiary of LINE Games. Its signature flight shooting mobile game 'Dragon Flight' and the mobile core title 'Destiny Child,' launched in October 2016, still maintain wide popularity and continue to show solid business growth.
While these initiatives helped to establish sound game development and publishing expertise, the recent funding further drives LINE GAME to identify and invest in new global partnerships, pursue game business that encompasses the global market, and acquire a range of promising IPs in order to strengthen its business competitiveness in the rapidly changing game industry.