Advertisement
UK markets open in 2 hours 33 minutes
  • NIKKEI 225

    38,715.70
    -231.23 (-0.59%)
     
  • HANG SENG

    19,254.80
    +34.18 (+0.18%)
     
  • CRUDE OIL

    79.06
    -0.20 (-0.25%)
     
  • GOLD FUTURES

    2,417.80
    -8.10 (-0.33%)
     
  • DOW

    39,872.99
    +66.22 (+0.17%)
     
  • Bitcoin GBP

    54,938.12
    -966.77 (-1.73%)
     
  • CMC Crypto 200

    1,474.36
    -14.18 (-0.95%)
     
  • NASDAQ Composite

    16,832.62
    +37.75 (+0.22%)
     
  • UK FTSE All Share

    4,584.40
    -5.98 (-0.13%)
     

South Korea's Krafton to acquire 10% of Polish video games maker PCF Group

(Reuters) - Polish video games maker PCF Group said late on Tuesday Krafton Inc, a South Korean company backed by China's Tencent, will acquire a 10% stake in the company, sending its shares nearly 10% higher.

Under the investment agreement signed by PCF Group and its biggest shareholder and CEO Sebastian Wojciechowski, Krafton will subscribe for newly issued shares in PCF Group at an issue price of 40.20 zlotys a share, a 9% premium to Tuesday's close.

PCF Group shares jumped 9.9% to 40.4 zlotys at 0716 GMT.

"For PCF, attracting an investor in the form of Krafton (creator of PUBG, among others) may positively translate into the quality and marketing of the games under development," Piotr Bogusz at Erste Group wrote in a note.

ADVERTISEMENT

Wojciechowski holds a 49.76% stake in the maker of high-budget shooter games, such as "Painkiller", "Gears of War: Judgment" or "Outriders".

The Polish company plans to issue up to 5,853,941 shares to raise up to 295 million zlotys ($68.27 million) to implement its new strategy as it moves to self-publishing of games.

Bogusz said that while the price may vary depending on the investor, the 40.20 zlotys per share agreed with Krafton "may be a certain determinant for other investors".

If the maximum shares are issued, Krafton will take up shares worth 144.5 million zlotys and will be the main investor participating in the issue, Bogusz said.

($1 = 4.3212 zlotys)

(Reporting by Anna Pruchnicka;Editing by Elaine Hardcastle)