If you are over 30 years old, the probability is you have never played an online videogame and the phenomenon may have passed you by. Fund managers, however, no longer have the luxury of ignoring this high growth sector and thanks to the forthcoming ADR of Korea's Webzen, many are busily trying to understand the business model.
Webzen plans to launch a $100 million ADR via JPMorgan in early December and as such will be the first online gaming company to issue an ADR and thus target international investors.
It is, of course, a very young company and is the hottest in the sector. It was listed on Kosdaq in...
