Huuuge shares rise as $120 million buyback brightens muted Q2
BUZZ-Huuuge shares rise as $120 million buyback brightens muted Q2 ** Shares of Huuuge HUGP.WA jump 5% after the Delaware-based free-to-play mobile game developer announced a new share buyback programme of up to $120 million on Wednesday
** It plans to repurchase up to 16.4 million shares for $7.30 apiece, equal to up to 36.74% of its share capital
** Erste analyst Krzysztof Tkocz says the positively viewed buyback is roughly twice as large as it had expected, equivalent to 164% of the company's 2025 free cash flow
** Huuuge also reported Q2 results, with sales missing Erste's and Trigon's expectations, and said it was planning an entry into the iGaming market
** Trigon analyst Grzegorz Balcerski says the iGaming initiative provides an upside not yet included in valuation estimates
(Reporting by Emmanuelle Serres)