Winking Studios closes at S$0.21 on Catalist debut, 5% above IPO price
SHARES of gaming-related company Winking Studios closed at S$0.21 on their trading debut on Monday (Nov 20). This is 5 per cent above the counter’s initial public offering (IPO) price of S$0.20 per share.
The counter kicked off trading at S$0.205 per share on the Singapore Exchange’s (SGX) Catalist board.
At 10.14 am, the share price stood at S$0.215, or 7.5 per cent above its IPO price, with 1.1 million securities traded.
By market close, around 1.7 million shares had changed hands.
The company provides art outsourcing (*see amendment note) and game development services for the video games’ industry across platforms such as console, PC, online and hand-held content.
It primarily operates in Taiwan and China, where it has seven studios, with operations supported by Winking Studios’ office and team at its Singapore headquarters.
BT in your inbox
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
The company is majority-owned by Acer Gaming, the gaming arm of Taiwan-listed electronics company Acer.
Winking’s chief executive and executive chairman Johnny Jan said the counter is the first gaming-related company to list on the SGX.
“Our group’s proven capabilities over the last 25 years have enabled our growth to become one of Asia’s largest game art outsourcing studios and an established game development company,” said Jan.
“We are committed to continue sharpening our competitive edge to meet the changing demands of the art outsourcing and gaming industry and to deliver positive returns to our investors.”
Winking on Nov 17 announced that its IPO had closed with 40 million of its new shares fully subscribed, of which 27.2 million were placement shares.
Acer Gaming and Acer’s chairman and chief executive Jason Chen subscribed for the remaining 12.8 million shares through a cornerstone investment.
Winking intends to use its net proceeds of about S$5.1 million from the IPO to expand its operations globally, including through acquisitions and strategic alliances.
“This listing represents a pivotal moment in Winking Studios’ journey as it positions itself to expand into overseas markets,” said Matthew Song, SGX’s head of capital markets, global sales and origination.
Amendment note: An earlier version of this story mentioned that Winking Studios outsources art. The article has been edited to clarify that Winking Studios provides art outsourcing, an industry term.
Copyright SPH Media. All rights reserved.
