Global producer and publisher of free-to-play games with a focus on the fast-growing mobile gaming market, Huuuge, announced its intention to conduct an IPO. Huuuge plans to seek the admission and introduction of the company's ordinary shares to trading on the main market of the Warsaw Stock Exchange.
Huuuge is a global producer of free-to-play games and publisher of online games for mobile devices and internet platforms. The company's vision is to enable interaction between users of mobile games, and its mission is to offer joint entertainment to billions of people.
Continuing to build its position as one of the global market leaders in real-time free-to-play mobile gaming, Huuuge aims to bring new gaming experiences to life by creating best-in-class Live Ops and innovative social features.
In 2019, the rapidly growing multi-billion dollar gaming market accounted for approximately $152 billion in consumer spending. It is estimated that by 2022 this market will grow at a rate of 9.1 percent annually. Mobile games, including games for smartphones and tablets, represent the largest (45 percent) and fastest-growing part of the global gaming market, accounting for approximately $69 billion in consumer spending in 2019, with an estimated annual growth rate of 12.6 percent by 2022.
Huuuge is one of the most dynamically developing producers and publishers of mobile games, which finds its users in almost every country in the world. Huuuge's consolidated revenues grew by an average of 30.6 percent per annum (CAGR) in the 2017-2019 period.