Mobile games developer Huuuge prices IPO

Mobile games developer Huuuge Inc. priced its IPO at 50 Polish zloty per share with the final number of shares in the offering at 33,316,686.

The value of the offering will be 1.67 billion zloty and comprises a primary component of 565 million zloty and a secondary placement of 1.1 billion zloty, the company said Feb. 5. At the offer price, the implied market capitalization of the company upon completion of the listing will be 4.2 billion zloty.

The final number of offer shares offered to retail investors has been set at 1,665,834, while the remaining 31,650,852 offer shares have been offered to institutional investors. Listing of Huuuge's shares on Warsaw Stock Exchange is expected to take place Feb. 19.

The company intends to use the proceeds of 565 million zloty for potential acquisitions and to fund its long-term growth.

Upon offering completion, Huuuge founder and CEO Anton Gauffin will hold, indirectly through Big Bets OU, company shares representing 30.68% of the total votes and The Raine Group LLC will hold shares representing 12.96% of the total votes.

Credit Suisse Securities, Sociedad de Valores SA and J.P. Morgan AG are acting as the joint global coordinators and joint bookrunners of the offering. Meanwhile, IPOPEMA Securities SA is serving as the joint bookrunner and investment firm.

The retail consortium in Poland, which will accept subscriptions from retail investors, include IPOPEMA Securities, as well as brokerage houses of mBank SA, PKO BP, BOŚ Ekosystem sp. z o.o., BDM and Noble Securities SA.

As of Feb. 5, US$1 was equivalent to 3.73 Polish zloty.