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

(Reuters) – Mobile games developer Huuuge Inc’s initial public offering is now expected to be higher at about $442 million as shares are indicated to be priced at the upper end of an anticipated range, bookrunners organising the floatation said on Tuesday.

The company last week set the maximum price in its Warsaw IPO at 50 zlotys per share, valuing the deal at around 1.5 billion zlotys ($400.8 million).

Some shareholders will also sell about 3.7 million shares more during the IPO, the bookrunners said.

Huuuge, which has a significant base in Poland, follows other firms aiming to go public as the COVID-19 pandemic prompts more people to go online for entertainment, shopping and other needs.

The gaming sector in Poland has attracted international investors on the back of the global success of Polish games maker, CD Projekt.

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