Another producer of video games in Poland, BoomBit, has debuted on the main floor of the Warsaw Stock Exchange. It is the 29th game developer listed on the WSE. Together with BoomBit, the capitalization of Polish gaming market already amounts to PLN 33bn.
First “real” debut on the main floor in 2019
On 14 May 2019, another Polish video game producer, BoomBit, debuted on the WSE’s main floor. 7.3 million rights to shares were introduced to trading on the WSE. The reference price was PLN 19 (this is how much the company sold its shares in the IPO). Subscriptions for shares were accepted at a maximum price of PLN 35.50. 3,183 individual investors subscribed for the company’s shares and the reduction rate was 53.45%. As far as the gaming industry is concerned, this is the largest number of subscriptions of individual investors in the history of the WSE. The BoomBit capitalization at the time of its debut exceeded a quarter of a billion zlotys. BoomBit is the 461st company listed on the WSE Main Market and the 4th new listing on this market in 2019. It is worth noting, however, that three previous debuts concerned companies moving from NewConnect.
Boombit 29th game developer on the WSE
BoomBit is already the 9th producer of video games listed on the WSE Main Market. In general, together with BoomBit, twenty-nine Polish gaming companies are already present on both the main market and NewConnect. It is worth noting, however, that the remaining participants of the stock exchange are domestic companies, while BoomBit is a multinational company that was originally established in the UK in 2012 and is present on the markets of the United States, China and Slovakia. Currently, the total capitalization of gaming companies in Poland, together with the estimated valuation of Techland, amounts to nearly PLN 33bn. For comparison, at the end of 2018, the value of game producers present on the stock exchange was at the level of PLN 25.5bn.
BoomBit: competences in the mobile gaming segment
BoomBit (formerly Aidem Media) is an international producer and publisher of mobile games in the free-to-play segment for iOS and Android platforms, as well as for Nintendo Switch. The BoomBit Group has created over 500 game titles for various digital stores around the world. BoomBit’s most popular games include “Dancing Line”, “Build a Bridge!”, “Tanks A Lot!”, “Darts Club”, “Car Driving School Simulator” and “Tiny Gladiators”. In 2018 Boombit also became a publisher for external titles. Ultimately, the development studio intends to release 10 foreign games a year. Thanks to the money obtained from the issue of shares, Boombit wants to accelerate the development of business in Poland.