WINKING Studios announced its intention to seek a listing on the AIM Market of London Stock Exchange (LSE) in November to support expansion into western markets.
In a bourse announcement on Thursday (Oct 31), the gaming-related company stated its intention to be dual-listed on the secondary boards of the Singapore Exchange and the LSE.
Winking Studios did not disclose how much capital it was looking to raise with the AIM listing.
Major shareholder Acer group will support Winking Studio’s dual listing by participating as a cornerstone investor. The dual listing will also provide access to a larger pool of tech investors and diversify the company’s shareholder base.
“London feels like the obvious choice, as it gives us a foothold in a market known for its deep understanding of the global gaming industry and support for ambitious international firms like Winking Studios,” said Johnny Jan, founder and CEO of Winking Studios.
The funds raised from the dual listing will be allocated to grow Winking Studio’s market share in Asia and Europe through acquisitions, alliances and joint ventures.
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Funds will also be used to enlarge the company’s customer base in North America and Europe through increasing marketing and business development efforts, and establishing a UK-based regional hub.
Funds will also be allocated to enhancing the group’s operational capabilities, including development and improvement of artificial intelligence capabilities.
“Operating in a fast-growing industry, with a proven track record of delivery and relationships with the majority of the world’s biggest game developers, we plan to build on our success to date and capitalise on the fragmented nature of the industry landscape to drive future growth,” added Jan.
Shares of Winking Studios closed up S$0.01 or 3.5 per cent to S$0.295 on Wednesday.
