Social games developer Huuuge intends to use the proceeds of its IPO to acquire other social game developers, and has already identified about 60 possible targets.
This was revealed in the prospectus document for the developer’s Warsaw Stock Exchange offering, which has been approved by Poland’s Financial Supervision Authority (KNF).
The IPO will be made up of a public subscription for up to 15,000,000 newly issued shares and a public sale of up to 18,350,000 existing shares.
Based on the PLN50 (£9.71/€11.00/$13.33) price, this means it could raise more than PLN1.5bn, making the offering the largest IPO of a gaming company in the history of the Warsaw Stock Exchange.
