Swedish mobile developer MAG Interactive intends to enter the stock exchange and earn $ 68 million on this.
MAG’s existing investors have already pledged to buy $27 million worth of the company’s shares after the IPO. It is expected that the initial placement on the Nasdaq First North exchange will take place before the end of 2017.
Daniel Hasselberg, CEO of MAG Interactive, said that entering the securities market will provide resources for growth, increase visibility and diversify the company’s management structure.
MAG Interactive has acquired 3 game studios over the past 4 years. The latest purchase was the Swedish company FEO Media, which MAG bought with the help of $9.7 million allocated by the stock company Swedbank Robur.
Also on the topic: