Free-to-play developer and publisher Huuuge has officially begun trading on the Warsaw Stock Exchange.
Moreover, the value of Huuuge’s offering has amounted to PLN 1.67 billion ($442 million).
It boasts the largest IPO by a games company in the history of the WSE and is the largest mobile gaming initial public offering in Europe.
Currently, Huuuge has raised an estimated $150 million through its public offering.
Huuuge first confirmed its IPO intentions last month before going on to publish its prospectus.
Following the completion of the offering, Huuuge CEO Anton Gauffin will remain a significant shareholder with 30.68 per cent of shares.
Huge day
“This is a monumental day for Huuuge. Today marks the completion of the strategic transformation project that we have been relentlessly working on for the last few years,” said Gauffin.
“From now on, we are not only an international company but also a public one, which in turn makes us even more global as we make our brand accessible around the world, and investors everywhere have the opportunity to share in our success.
“This is critical to our long term strategy, and we are very excited to start our journey on the Warsaw Stock Exchange.”
Future is bright
With the money generated via the offering, Huuuge will use between 90 and 95 per cent for acquisitions and investment opportunities.
Moreover, the global mobile games market is set to be more than $100 billion a year, and Huuuge is a prominent player within the sector.
“Mobile games are the fastest-growing segment of the gaming market, with huge growth potential driven by the increasing penetration of smartphones and the introduction of 5G networks,” said Gauffin.
“Our unique business model and Huuuge’s Play Together approach means that our global team of teams generates the highest revenue per daily active user in the social casino segment.”
