Lion Heart Studio, led by Kim Jae-young as a developer of Odin: Valor Rising (Odin), withdrew the listing competition.

On October 13, Lion Heart Studio submitted a withdrawal report to the Financial Services Commission. Lion Heart Studio said, We will submit a withdrawal report in consultation with the co-representative weekly company in consideration of all conditions such as domestic and foreign situations that are difficult to properly evaluate the company’s value.

Founded in 2018, the Lion Heart Studio was developed in June 2021, launching the mobile MMORPG in June 2021, with sales of KRW232.5 billion and operating profit of KRW215.3 billion. The largest shareholder is Aka Games, which holds a total of 54.94%of the European subsidiary and its headquarters.

On the success of Odin, Lion Heart Studio promoted the IPO to the NASDAQ market. Lion Heart Studio’s hopeful competition price was 36,000 ~ 53,000 won, with a target market cap of 4.5 trillion won.

Lion Heart Studio said, If the listing schedule is reorganized later, we will guide you the details by submitting a securities report.