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Update, February 5, 2021: Huuuge Games has announced the final pricing and number of shares, putting it on course to raise well over $400 million.
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The share price remains at PLN 50 ($13.32), with the amount of shares to be offered at 33,316,686.
That values the offering at PLN 1.67 billion ($442 million).
Original Story, January 27, 2021: Huuuge Games has released more details about its upcoming IPO, a move that stands to generate the company just shy of $400 million.
As previously announced, the company will issue 15 million new shares, and a release announcing the publishing of its prospectus reveals an additional 18.35 million existing shares will also be included in the offering.
The maximum share price has been set to PLN 50 ($13.3), with the company stating this raises the potential value of the IPO to PLN1.5 billion ($399.8 million).
According to Huuuge, this would make it the largest video games IPO in the Warsaw Stock Exchange's history.
Final details of the offering are due to be determined by February 5, with Huuuge Games expecting to be listed on the stock exchange on or around February 19.
We recently spoke to CEO Anton Gauffin about how the IPO will elevate the Polish mobile developer.
We are Huuuge Games, an international free-to-play games developer and a global publisher of digital games on mobile and web platforms, with a mission to empower billions of people to play together, as part of our vision is to transform mobile gaming into a massively social experience.
In order to become one of the global leaders in real-time, free-to-play casual gaming, Huuuge aims to redefine the category experience by offering best-in-class live operations in its games and an unmatched environment in which to socialise. Huuuge is one of the fastest-growing game developers in terms of revenue among mobile game developers, having generated annual revenue growth of 30.6% in 2017-19 (CAGR). We develop and publish our games globally and our users play our games in almost every country of the world.
The Company’s major areas of operations are building, publishing and operating multiple mobile games and serving the global player and customer base of Huuuge.
Development encompasses all activities related to the development of new games from the initial idea, through development and soft launch, to global launch and live-operations. Huuuge has a proven track record of developing successful games within the social casino genre with its core titles: Huuuge Casino and Billionaire Casino. Publishing encompasses activities from the launch of a game onwards, including building relationships with distributors, marketing and continuous post-launch game optimisation.
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