Shares in Huuuge jump 5% in Poland's biggest gaming firm debut (updated)

Answear.Com SA

19/02/2021 09:40

(Updates shares, adds CEO comment, details)
    GDANSK, Feb 19 (Reuters) - Shares in mobile games developer
Huuuge Inc. jumped 5% on its market debut in Warsaw on Friday,
following Poland's largest gaming industry listing to date.
    U.S.-registered Huuuge, which employs more than 400 people
in Poland, adds to a string of companies that have sought
listings as people spend more time online for entertainment,
shopping and other needs due to coronavirus restrictions.
    Poland's most recent initial public offerings (IPOs) include
e-commerce platform Allegro  ALEP.WA , parcels locker firm
InPost  INPST.AS  and online fashion retailer Answear.com
 ANRP.WA .
    With a market capitalisation of 4.44 billion zlotys ($1.20
billion), Huuuge is bigger than peers PlayWay  PLWP.WA  and Ten
Square Games  TENP.WA . It is set become the second most-valued
Polish gaming company after CD Projekt  CDR.WA .  urn:newsml:reuters.com:*:nL1N2KB0JY
    "This is a monumental day for us. Today is one big 'hello
world' moment for team Huuuge," the company's founder and Chief
Executive Anton Gauffin told an IPO conference call.
    Investors from more than 20 countries had participated in
the offering, Huuuge said.
    Shares had jumped 5% to 52.6 zlotys by 0913 GMT, after
opening flat compared to its 50 zloty IPO price.
    Huuuge plans to use the IPO proceeds for new deals under its
"build and buy" strategy.
    
    ($1 = 3.6963 zlotys)

 (Reporting by Karol Badohal and Anna Pruchnicka; Editing by
Edmund Blair)
 ((karl.badohal@thomsonreuters.com; +48 58 769 65 97;))