Mobile games firm Huuuge IPO target raised to $442 million – bookrunners

(Reuters) – Cell video games developer Huuuge Inc’s preliminary public providing is now anticipated to be greater at about $442 million as shares are indicated to be priced on the higher finish of an anticipated vary, bookrunners organising the floatation stated on Tuesday.

The corporate final week set the utmost worth in its Warsaw IPO at 50 zlotys per share, valuing the deal at round 1.5 billion zlotys ($400.8 million).

Some shareholders may even promote about 3.7 million shares extra throughout the IPO, the bookrunners stated.

Huuuge, which has a big base in Poland, follows different corporations aiming to go public because the COVID-19 pandemic prompts extra individuals to go surfing for leisure, procuring and different wants.

The gaming sector in Poland has attracted worldwide traders on the again of the worldwide success of Polish video games maker, CD Projekt.

Reporting by Pushkala Aripaka in Bengaluru; Enhancing by Ramakrishnan M.