Huuuge Has Filed For An IPO On The Warsaw Stock Exchange

? IPO

• Polish mobile game developer and publisher Huuuge Games has filed a prospectus for an IPO on the Warsaw Stock Exchange

  • The move was likely caused by the huge success of other Polish gaming company CD Project (CDR.WA)

• The company submitted the prospectus to the Polish Financial Supervision Authority (KNF), no additional information about potential IPO was provided

• Huuuge’s listing may be highly beneficial to the Warsaw Stock Exchange (GPW.WA) as it had troubles attracting new listings for the last three years

  • Poland has proved to be one of the leading video games exporters, which is partially explained by its low labor costs and a long gaming tradition in the country

? Recent Acquisitions

• In July 2020, Huuuge Games disclosed two acquisitions:

  • Double Star, Finnish game studio, that has developed Bow Land mobile game in cooperation with Huuuge Games

  • Playable Platform, Dutch advertising startup behind AI-driven self-optimizing technology for mobile playable advertisement

• The terms of both deals remain undisclosed

? Product

• Huuuge Games is a global F2P mobile game developer and publisher, with titles like Huuuge Casino Slots, Billionaire Casino, Stars Slots, Trolls Pop, Traffic Puzzle and Coffee Break Games

• According to Reuters, the Group generated about $260m of revenue in 2019. The company’s product portfolio has demonstrated:

  • +1.5 million DAU

  • 150+ million total downloads

SOURCES: BLOOMBERGLAW, IGAMINGBUSINESS, REUTERS