The social gaming boom in Japan has helped Tokyo-based KLab to go IPO at the the “Mothers” section of the Tokyo Stock Exchange yesterday (3656). The company received the listing approval on August 23.
On the first day of trading, Klab shares shot up from 1,700 yen up to 4,070 yen. On the second day, the shares closed at 3,210 yen.
What’s interesting is that KLab now has a market cap of US$200 million – not bad for a company that doesn’t really have a long history in making games (it also offers system integration solutions, mobile content and cloud/hosting services).
The company was founded by Tetsuya Sanada in 2000 and has 283 employees in Tokyo, Osaka and Fukuoka.