WOOD Flash – Nexters: acquires three gaming companies for USD 100m
Nexters has entered agreements to acquire three gaming companies, investing USD 100m (c.6% of its market cap) to expand in midcore genres and diversify its portfolio further. The company plans to accelerate its product growth and consolidation strategy. Nexters will finance this transaction using a mix of cash on balance and a new share issuance. The company may issue up to 1.4m new shares to partially finance the transaction, which is less than 1% of the total shares outstanding. The company had a USD 105m cash balance as of 3Q21, with no debt. Nexters has a highly cash-generative profile; we assume that the 2021E and 2022E FCF at USD 91m and USD 177m, respectively.
WOOD & Company is the leading investment bank in Emerging Europe. Founded in 1991 and head-quartered in Prague, our footprint spans the region and touches investors around the globe.
A pioneer in Emerging Europe, WOOD executed many of the first CEE equity trades and landmark investment banking transactions. Our electronic trading platform was the first in the region, and remains the best. We are continually expanding our relevance and reach in these ever-evolving markets.
Our equity market share reflects our stature: 7% in Warsaw, 20% in Bucharest, 16% in Hungary, 40% in Prague and 5% in Vienna. Our distribution is unparalleled, with the largest salesforce in the region, servicing a uniquely diverse investor base.
We couple local expertise with a truly international perspective. With offices on the ground in the region, and in key financial hubs such as London and Milano, we are never far from our clients and we remain at the forefront of what’s afoot in the CEE emerging and frontier landscape.
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