Huuuge aims for Polish IPO

The free-to-play game developer and publisher plans an initial public offering on the Warsaw Stock Exchange.

Poland.- The free-to-play game developer Huuuge Inc. has announced it plans to launch an initial public offering on the Warsaw Stock Exchange.

It says it has submitted a proposal to the Polish Financial Supervision Authority but will need to finalise plans with shareholders if it is granted approval to make the IPO.

US-based Huuuge focuses mainly on the mobile gaming market, with free-to-play brands such as Billionaire Casino, Stars Slots, Traffic Puzzle and Coffee Break Games.

It has a strong market in Poland, which has been seen as an attractive market for investors following the success of Polish games maker CD Projekt.

Huuuge Chief Executive Anton Gauffin said an IPO would support the company’s growth plans.

He said: “We are now looking to the next phase of our growth, developing our pipeline of new games and realising consolidation opportunities such as our recent acquisition of Playable Platform in the Netherlands and Double Star in Finland.

“We are also considering an IPO as a possible part of this strategy.”

Huuuge says it generated close to $260million in revenue in 2019. It employs more than 600 people across 12 offices.

Observers note that an IPO could be a boost for the Warsaw Stock Exchange, which has struggled to attract new listings. The exchange has seen two small IPOs this year, both from video games companies.

Poland’s Ministry of Finance has reported that newly regulated online casino verticals have helped slow the decline in gaming revenue in the country.