Paradox today commences trading on Nasdaq First North Premier
Paradox Interactive AB (publ) (“Paradox” or “The Company”), a leading global developer and publisher of strategy games, simulation games and RPGs primarily for the PC platform in North America and Europe, today commences trading on Nasdag First North Premier under the trading symbol PDX.
The price in the Offering was set at SEK 33 per share, corresponding a valuation of the Company of SEK 3 485 million.
The Offering comprised a total of 16,327,400 existing shares, all of which were offered by the Selling Shareholders in Paradox, corresponding to approximately 15 percent of the total shares in the Company and an Offering size of SEK 539 million. The Company will not receive any proceeds from the Selling Shareholders.
Through the Offering, the Company received more than 20,000 new shareholders. As a long-term Partner Investor, Swedbank Robur has acquired shares in the Offering corresponding to a value of SEK 60 million and an ownership of 1.7 %. As a fan to the Company and its games, Tencent, the world-leading online game developer/operator and recognized as the largest online gaming community in China has, as announced on May 27 2016, acquired shares in the Offering corresponding to a value of SEK 174 million and an ownership of 5 %.
Fredrik Wester and Spiltan will continue to be long-term shareholders in Paradox with 33.3 % and 30.5 % of the shares in the Company respectively.
Trading in the Company’s shares on Nasdaq First North Premier commences today, 31 May 2016, under the trading symbol PDX.
Fredrik Wester, CEO, founder and principal owner of Paradox says:
“I am very pleased with the very large interest shown for Paradox during the listing process – from fans, employees and other parties with a long-term interest in our company. The listing will provide us with improved opportunities to continue on our profitable path and implement our strategy to immerse ourselves in our gaming niches, broaden our technology platform and expand beyond our core markets in order to create a better presence closer to our fans.”
Håkan Sjunnesson, Chairman of Paradox and head of Investment AB Spiltan’s holding in Paradox says:
“The large interest shown for our company is a stamp of approval for our way of conducting our business and the hard work put in by all of our employees to develop and bring to market exciting games to our fans around the world. I welcome all new shareholders in our company and look forward to bringing them to join our coming journey.”
Avanza Bank is acting as Lead Advisor and Bookrunner and Pepins as Placement Agent through its crowdfunding platform. Fogel & Partners is acting as strategic communications advisor to the Company and Setterwalls is acting as legal advisor to the Company and its selling shareholders.