Dontnod: Tencent stake buy a "quality guarantee", shares jump

Nacon SAS

28/01/2021 08:21

** Shares in French independent game maker Dontnod
Entertainment  ALDNE.PA  jump 7.5% after China's Tencent
 0700.HK  takes a stake in it
    ** Tencent participated in Dontnod's capital increase,
subscribing for EUR 30 mln ($36.3 mln) worth of shares
 urn:newsml:reuters.com:*:nL1N2K227O
    ** Dontnod, maker of Life is Strange and Vampyr, raised EUR
50 mln in total in capital increase, EUR 10 mln more than
initially planned due to oversubscription  urn:newsml:reuters.com:*:nFWN2K30JV
    ** Midcap Partners sees the Tencent partnership as making
history in the sector, stressing that thanks to this, Dontnod
will be able to self-publish its new projects
    ** "Tencent's arrival in the capital of Dontnod marks as
well an enormous quality guarantee, validating the group's
positioning and uniqueness we find in its games," Midcap adds,
reiterating "buy" rating
    ** Shares in peers Bigben Interactive  BGBN.PA , Nacon
 NACON.PA  fall 2-3%
    
($1 = 0.8275 euros)

 (piotr.lipinski@tr.com)