Chinese Media: Tencent Does Not Consider Acquiring Nexon; Related Token NXPC Plummets Over 10%

Tencent’s Potential Acquisition of Nexon Sparks Discussion

Previously, Bloomberg reported, citing informed sources, that Tencent intends to acquire the renowned South Korean game development company Nexon, which has sparked discussions within the community. Founded in 1994, Nexon has launched several online games, including “MapleStory.” The company went public in Japan in 2011 and currently has a market capitalization of approximately $15 billion.

According to informed sources, Tencent has approached the family of the late founder Kim Jung-ju to discuss the possibility of acquisition; however, this transaction is still in the early stages, and it is not yet confirmed whether it will ultimately proceed. Reports indicate that the Kim family holds about 44.4% of Nexon through the family holding company NXC Corp. and its subsidiary NXMH BV, with Kim Jung-ju’s widow and two daughters collectively holding approximately 67.6% of NXC’s equity.

However, Chinese media outlet Xinjingbao reported this afternoon that Tencent has not contacted Nexon’s founding family to discuss a deal and is not considering acquiring Nexon. Following the release of this report, the token NXPC issued by one of Nexon’s subsidiaries plummeted over 10% within two hours.