PlayWay S.A. announced the initiation of an accelerated bookbuilding process on January 23, 2023, to divest a significant portion of its holdings in Movie Games S.A. The transaction involves the sale of up to 860,152 shares, representing 33.43% of the total share capital and voting rights in Movie Games. Ipopema Securities S.A. was appointed to manage the bookbuilding process, which was expected to conclude by January 26, 2023, though the final price and volume remained subject to market demand and management discretion.
The divestment strategy is rooted in an internal review of synergies and development alignment within the PlayWay Group. By reducing its stake in Movie Games, PlayWay intends to reallocate the resulting capital toward new and existing teams and projects across its broader portfolio. Depending on the final volume of shares sold, PlayWay may enter into a lock-up agreement regarding its remaining shares in the company.
The offering was structured as a public sale exempt from the requirement to publish a formal prospectus under European Union regulations, targeting selected institutional investors and qualified buyers. Geographically, the offer excluded jurisdictions with restrictive securities laws, such as the United States, Australia, Canada, Japan, and South Africa. This corporate action reflects PlayWay’s active portfolio management approach within the Polish gaming sector, prioritizing capital liquidity for future investments over maintaining a minority stake in this specific subsidiary.