As mentioned just a few days ago, Korean developer Lionheart Studio was preparing its IPO filing and be listed in Korea. However, things have changed massively since then, with the company retracting its submission citing “difficulty in properly evaluating the value of Lionheart Studio in the current market situation.” As some analysts pointed out, it currently only has one game in service in 2 regions (Korea, Taiwan), hence making the listing a risky prospect.
On a more positive note, Lionheart Studio is aiming to file for IPO again once the financial climate is better and a more accurate evaluation of the company can be provided. It is still backed by the billions of Kakao Games, its majority shareholder, so hopefully we can see ODIN: Valhalla Rising launch overseas in 2023 soon! And of course, the few secret projects it has been working on.