Global producer and publisher of free-to-play games with a focus on the fast-growing mobile gaming market, Huuuge, has published a prospectus and is launching its IPO. The maximum price in the offer was set at PLN 50 per share.

The offering includes the public subscription of up to 15,000,000 newly issued shares of the company and the public sale of up to 18,350,000 of the existing shares. The company expects to receive gross proceeds from the issue of new shares of up to approx. $150 million (approx. PLN 565 million). Based on the established maximum price, it can be estimated that the total value of Huuuge's public offering may amount to approximately PLN 1.5 billion, which means that it will be the largest offer of a gaming company in the history of the WSE.

“Mobile games are the fastest-growing segment of the gaming market, with enormous growth potential driven by the growing popularity of smartphones and the introduction of 5G networks. Huuuge's innovative experience of having fun together, prioritizing social aspects, and engaging real-time competition and interaction with other players around the world are at the heart of our approach. Combined with data analytics and personalized marketing, it allows us to gain, maintain and deepen relationships with players, thus generating the highest revenue per DAU in the social casino gaming segment," Anton Gauffin, Huuuge founder and CEO, said.

Obtaining funds from the issue of shares will allow for acceleration of development, and the money is to be spent on acquisitions and investments in other companies or company assets.

(WBJ)