Media and Games Invest - Placing and dual listing in Stockholm
Media and Games Invest (MGI) has successfully completed its placing, announced on 29 September 2020, issuing 25m new shares at a price per share of SEK12.00 (€1.14/share) raising proceeds of SEK300m (c €29m). The placing price represents a c 10% discount to the two-day volume weighted average price. It increases the number of shares in issue by c 21% to 117.1m. Gross proceeds from the placing will be used to finance acquisitions of new franchises, game publishers and development studios, as well as to invest in organic growth. MGI expects to complete its dual listing on the Nasdaq First North Premier Growth Market in Stockholm on or around 6 October 2020.
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