Winking Studios plans to raise $8.0m in Catalist listing
The company is offering 40 million shares.
Game development company Winking Studios plans to raise $8m from its initial public offering on the Catalist Board of the Singapore Exchange Securities Trading Limited (SGX-ST).
According to the company's prospectus lodged in the SGX, it is planning to offer 40 million shares at $0.20 apiece. Of the total shares, 27.2 million are placement shares, and 12.8 million are cornerstone shares.
After deducting the $2.9m estimated expenses incurred in the issuance of the sales, Winking Studios expects to gain net proceeds of $5.1m.
The company will use its IPO proceeds to expand its operations globally, including establishing subsidiaries and offices, enhancing existing offices, and supporting infrastructure, amongst others.
The placement will be open from 9 November, after the registration of the Offer Document by the SGX ST, to 16 November.
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