Game maker's stock dived in debut
11:42
Shares of games developer and publisher Games Box, whose largest shareholder is listed Ultimate Games, debuted on NewConnect on Friday. This is the fourth debut of a game developer on the small stock exchange this year. As in the case of the previous three debuts of game companies, i.e. Road Studio, Hydra Games, and Black Rose Projects, this time the first listing was accompanied by a strong discount on shares.
At the opening, the company's share price fell by 29.2 percent, to PLN 8.5, after which the decline deepened. Currently, the shares are valued at PLN 6.12, which means a 49 percent discount compared to the reference price.
Games Box is the 61st company in the games industry on NewConnect and 80th, counting companies from both floors of the WSE. It is currently working on two of its own titles. Its product portfolio includes the tactical simulator "Riot Control Simulator" and the action game "Repo Man". Both titles have more than 18 thousand stocks on the so-called Steam wishlist. The release of the first one is scheduled for Q1 2023 and the second one for Q2-Q3 2023.
In 2021, Games Box achieved PLN 562,000 in revenue and PLN 32,000 in net profit. Before the debut from two private placements of shares acquired from investors PLN 2.3 million.
