GAMIVO shareholders decided to move to WSE main market
16:52
The General Meeting of Shareholders of GAMIVO, the owner of a trading platform for games and digital goods, has decided to apply for admission and introduction of the company’s shares to trading on the regulated market of the Warsaw Stock Exchange. The company debuted on NewConnect on 22 April this year.
From the beginning of our stock exchange history we have been treating the small stock exchange as a stage on the way to the main market of the Warsaw Stock Exchange. As a first step, we have chosen NewConnect market because of the faster possibility of shares quotation. By changing the listing market, we want to open up to a wider group of investors and strengthen our public image and transparency even more. - comments Mateusz Śmieżewski, President of the Board of GAMIVO.
GAMIVO operates on the border of e-commerce and gaming markets. The platform connects more than 2.5 million players with a base of nearly 1,000 sellers, who offer more than 50,000 products. Only in the first quarter, they generated a total turnover on the platform of 48.6 million PLN, which is a 47 percent improvement year-on-year.
In Q1, the Group’s revenue amounted to nearly PLN 10 million. Revenues connected with Gamivo.com platform’s operations increased by 108% y/y. Gross profit connected with the platform’s operations amounted to PLN 2.14 million and was 207% higher than a year before. The Group’s consolidated gross profit was PLN 1.82 million and net profit PLN 1.23 million.
High-quality customer service combined with competitive product prices are two pillars on which the company clearly stands out from the competition, building a strong market position. Gamivo’s goal is dynamic organic growth realized through, among other things, expansion into new markets and strengthening the commitment of existing sellers, and attracting new ones, resulting in increasing the number of products available on the platform and the number of transactions concluded.
