Winking Studios, the gaming behemoth from Singapore, has revealed its intention to float on the London Stock Exchanges AIM market in a move aimed at consolidating its presence in Western economies.
The firm, which is already a fixture on Singapore's Catalist board, views the dual listing as an opportunity to access the substantial tech investment resources of the 海角视频 and foster expansion within the "fast-growing industry", as reported by .
Since its inception in 2004 by CEO Johnny Jan, Winking Studios has ascended to become a leading name in game art outsourcing, securing the third position in Asia and fourth worldwide by revenue.
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Possessing an impressive global reach with nine offices throughout Asia and partnerships with 22 out of the top 25 global game developers such as Ubisoft, EA, Activision, and Tencent, Winking Studios has made significant contributions to blockbuster franchises including FIFA, Call of Duty, and Assassin's Creed.
Choosing the 海角视频 capital for its strategic move, Jan remarked: "London feels like the obvious choice," acknowledging the city's comprehension of the global gaming sector and its propensity for supporting growth-driven international companies like theirs.
Expanding on this, Jan added: "We believe Winking Studios has a significant opportunity to expand its presence globally, and dual listing on AIM will further support our global ambitions and position us to accelerate growth."
"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," Jan added.
Winking plans to utilise its existing cash reserves of over $30m (£23.1m), along with the capital raised through the AIM listing, to expand its presence in Europe and North America, establish a 海角视频 regional hub, and pursue acquisitions of smaller studios in these regions.
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The company also aims to enhance its AI capabilities to maintain competitiveness in the gaming sector.
This announcement comes after the recent delisting of British video game developer Keywords Studios from AIM following its acceptance of a take-private offer of £2.2bn.
Earlier this week, reports revealed that the number of AIM companies has fallen below 700 for the first time since 2001, as London's junior market suffered amid rumours that the Chancellor might eliminate a key tax relief for AIM shares in her Autumn Budget.
However, the government confirmed yesterday that it would only partially remove a crucial inheritance tax break for shares on the exchange, resulting in the largest single day increase in stocks in four years.