Romanian mobile games producer Firebyte Games will list its shares on the Bucharest Stock Exchange’s AeRO market on April 6.

In February, the company carried out a private placement through which it raised EUR 1 mln from local investors at a valuation of approximately EUR 4 mln. The private placement was oversubscribed 3.6 times. Thus, it’s highly likely that the share price will increase significantly on the first day of trading compared to the private placement price.

A similar listing carried out by cybersecurity company Safetech Innovation brought the investors who participated in the private placement gains of over 400% on the first day of trading.

“Since its inception, the company has set itself a bold long-term goal of becoming a globally important and recognized gaming studio, both in the area of ​​developing and publishing games made for mobile devices. In the three years of activity, the company has invested significantly in staff development, management and data collection, as well as improving project monitoring and management processes by executive management. Firebyte Games has developed 45 games or game prototypes for mobile devices, most of which are Hypercasual within revenue-share partnerships,” Firebyte Games said in a press release, Ziarul Financiar reported.

Firebyte’s majority shareholder is BRK Financial Group (BRK), which is also listed on the Bucharest Stock Exchange.

andrei@romania-insider.com

(Photo source: Facebook/Bursa de Valori Bucuresti)