Polish producer of video games from the PlayWay Group, Image Power, made its debut on the NewConnect market. The company raised PLN 1.6 million from the share issue carried out in November. The issue price was PLN 30 per share and was 50 percent higher than in the previous offer. At this rate, the valuation of the company exceeded PLN 46 million.
At the opening, the rate increased by 41.3 percent up to PLN 42.4, but at closing at 17:00 it was PLN 32 or 6.67 percent above the issue price.
“Our debut on NewConnect is for us the culmination of long and hard work that we have put into the development of the company in recent months. So far, we have achieved most of our short-term goals, and we are facing new challenges for which we are fully prepared. We want to develop our portfolio of titles to build brands that we will be able to monetize in the long run, for example through sequels or paid DLC. At the same time, we will not stop looking for new interesting ideas that will allow us to develop. The Warsaw Stock Exchange is a place where fast-growing companies can effectively build value for their shareholders. I treat the debut on the small trading floor as the implementation of another important stage in the development of our company,” Paweł Graniak, President of the Management Board of Image Power, said.
In February this year, the company successfully completed a Kickstarter fundraiser for the development of the proprietary game Yacht Mechanic Simulator 2021. The producer exceeded the planned ceiling of CAD 10,000 and plans to release the game in the middle of the year.