Shares of another gaming company will appear on the stock market. This time, Huuuge Games announced its intention to conduct an IPO. The developer of social casinos expects to attract at least $150 million.
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According to VentureBeat, the initial placement of Huuuge will take place on the Warsaw Stock Exchange (WSE).
It is not yet known how many shares the company will release into free circulation. But the head of the studio Anton Gauffin (Anton Gauffin) has already noted that he plans to retain a “significant number of shares”. Gauffin now owns approximately 42% of the company’s voting shares.
Huuuge is going to spend the money collected for the IPO on its own development, as well as on possible acquisitions and investments in other companies.
Huuuge first talked about the IPO last September, but then she was not completely sure of the need for this step. At that time, the developer submitted an application to the Financial Supervision Authority of Poland and intended to determine his further actions after the commission approved the document. By the way, according to PocketGamer, the company is still waiting for the approval of the Polish supervisory authorities.
Huuuge Games is a developer and publisher of free—to-play mobile games in the social casino genre. As of September 30, 2020, the studio’s MAU has reached the mark of 4.74 million users. For comparison, at the end of 2019, the company’s monthly games were launched by only 3.98 million people. Huuuge’s revenue for the first nine months of last year also grew well (+30% year-on-year) and amounted to $243.5 million.