LegalPlayWay
Raport Bieżący Nr 2/2023: Rozpoczęcie Procesu Budowy Księgi Popytu na Akcje Movie Games S.A.
23 Jan 20232 pages~6 min full read
PlayWay S.A. initiated an accelerated bookbuilding process on January 23, 2023, to sell up to 860,152 shares of Movie Games S.A., representing 33.43% of the company's total share capital.
See it on page 1The divestment is part of a strategic portfolio realignment, with PlayWay intending to reallocate capital from the sale toward new and existing projects across its broader group.
See it on page 1Ipopema Securities S.A. was appointed to manage the sale, which was structured as a prospectus-exempt offering targeting institutional and qualified investors.
See it on page 1The bookbuilding process was scheduled to conclude by January 26, 2023, with the final share price and total volume determined by market demand and management discretion.
See it on page 1PlayWay may enter into a lock-up agreement for its remaining shares in Movie Games S.A. depending on the final volume of the divestment.
See it on page 1The offering was restricted to specific jurisdictions and excluded investors in the United States, Australia, Canada, Japan, and South Africa due to local securities regulations.
See it on page 2PlayWay 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.
