Shift Up, the South Korean game developer, had a stellar IPO, with shares jumping 49% on day one, thanks to hits like Stellar Blade and Goddess of Victory: NIKKE. But investors are getting jittery over governance issues and its significant ties to Tencent, which holds a 34.58% stake and manages global publishing. With CEO Hyung-Tae Kim owning 39%, there are fears of management shifts if Tencent increases its influence. A recent report pointed out that Shift Up's transparency isn't up to par with industry standards, sparking calls for better governance. Still, the studio is riding high on the successful PC...
Published on: 6/14/2025
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