Stillfront Group to lift $53 million from directed share difficulty

Stillfront Group Greater than 2 million shares of directional shares are being issued to lift new funds for the enterprise.

The inventory is priced at 240.40 Swedish kronor per share ($25.45), and the corporate hopes to lift 500 million Swedish kronor ($53 million).

Swedish and worldwide institutional traders consider that inventory issuance is oversubscribed.

M&A

Stillfront hopes to make use of money to develop its enterprise and assist fund its latest $90 million Kixeye acquisition (presumably elevated to $120 million) ) and put money into additional acquisitions.

"Once we introduced the acquisition of Kixeye, we additionally acknowledged that we plan to additional improve our future monetary flexibility," stated Stillor CEO Jörgen Larsson (pictured primarily).

"Right now's sharing difficulty is a vital a part of this ambition. We’re very happy to see the agency dedication of traders to help our continued development journey."

Stillfront The Group has been constructing a developer and writer empire for the previous few years. The group now represents the corporate of Sweden's Unravel developer Coldwood and the German developer Goodgame Studios and the World at Battle founder eRepublik Labs. It presently has a complete of 11 studios.

Within the first quarter of 2019, the corporate reported a 33% improve in internet gross sales to $43.6 million, whereas revenue earlier than curiosity and taxes elevated by 54% to $11.9 million.

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