Strategic options review sends Huuuge shares soaring
02/08/2022 14:40
** Huuuge Inc HUGP.WA shares soar more than 10%, after the
Polish gaming producer says it is starting a strategic review
** Co says it is open to various scenarios, including
seeking a potential strategic or financial investor
** Adds it is considering a transaction which may lead to
change in shareholding structure
** Some entities have already expressed interest and
readiness to begin talks on the co's future - HUGP
** Co says in a statement that timing, value and ultimate
outcome of the review are uncertain
** "Despite the lack of certainty about the effects of the
strategic options review, we believe there is a high probability
that such a review will be completed with a share purchase
transaction by an external investor" - Piotr Bogusz, analyst at
Erste Group Research
** Bogusz adds that despite uncertainty over the outcome of
the strategic review, co's stock price will react positively
(Reporting by Patrycja Zaras)
((Patrycja.zaras@thomsonreuters.com))