SINGAPORE – Shares of Winking Studios began trading at 20.5 cents on the Catalist board of the Singapore Exchange (SGX) on Nov 20. This is 2.5 per cent above its initial public offering (IPO) price of 20 cents.
The counter closed at 21 cents, or 5 per cent above its IPO price, with 1.65 million shares traded.
Winking Studios provides art outsourcing and game development services for the video game 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.
The company is majority-owned by Acer Gaming, the gaming arm of Taiwan-listed electronics company Acer.
Winking Studios’ chief executive and executive chairman Johnny Jan said the counter is the first gaming-related company to list on the SGX.
The group’s “proven capabilities over the last 25 years” have enabled it to become one of Asia’s largest game art outsourcing studios and an established game development company, said Mr 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,” he added.
Winking Studios 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 Studios intends to use its net proceeds of about $5.1 million from the IPO to expand its operations globally, including through acquisitions and strategic alliances.
Mr Matthew Song, SGX’s head of capital markets, global sales and origination, said: “This listing represents a pivotal moment in Winking Studios’ journey as it positions itself to expand into overseas markets.” THE BUSINESS TIMES
Correction note: An earlier version of this story said that Winking Studios outsources art. The article has been edited to clarify that Winking Studios provides art outsourcing services, which is an industry term.
