Updated Mar 17, 2026 by PlayWay
PlayWay S.A. has initiated an accelerated book-building process to sell up to 2,202,736 shares of Big Cheese Studio S.A., representing a 53.27% controlling stake.
The divestment is targeted at institutional investors outside the U.S. and is facilitated by Trigon Dom Maklerski S.A., with the book-building process scheduled to conclude by July 26, 2024.
PlayWay intends to use the proceeds from the sale to fund new game development, issue future dividends, and expand a developer support program in Turkey.
The transaction is structured under European Union Prospectus Regulation exemptions, meaning no formal prospectus or information memorandum will be issued.
Despite losing its majority interest, PlayWay plans to maintain a commercial partnership with Big Cheese Studio, including ongoing royalty settlements and cross-promotional activities on Steam.
PlayWay may enter into a lock-up agreement for any remaining shares it retains in Big Cheese Studio, depending on the final volume of shares sold.
PlayWay S.A. has initiated an accelerated book-building process to sell up to 2,202,736 shares of Big Cheese Studio S.A., representing a 53.27% controlling stake.
The divestment is targeted at institutional investors outside the U.S. and is facilitated by Trigon Dom Maklerski S.A., with the book-building process scheduled to conclude by July 26, 2024.
PlayWay intends to use the proceeds from the sale to fund new game development, issue future dividends, and expand a developer support program in Turkey.
The transaction is structured under European Union Prospectus Regulation exemptions, meaning no formal prospectus or information memorandum will be issued.
Despite losing its majority interest, PlayWay plans to maintain a commercial partnership with Big Cheese Studio, including ongoing royalty settlements and cross-promotional activities on Steam.
PlayWay may enter into a lock-up agreement for any remaining shares it retains in Big Cheese Studio, depending on the final volume of shares sold.