KNF (Polish Financial Supervision Authority) has approved the prospectus of Ten Square Games Joint-stock company connected with Public Offering. The company has applied for introduction of shares to trading on the Warsaw Stock Exchange market and plans its debut in May. Haitong Bank Joint-stock company is offering shares.
Then Square Games is one of the biggest producers and publishers of mobile and browser games in Poland. The company was established in 2011 by Maciej Popowicz and Arkadiusz Pernal – creators of a social network site Nasza Klasa (np.pl) who successfully introduced free-to-play games into it. The company specializes in hobby related games. The newest game, Fishing Clash, achieved success in the first months after its premiere and distanced the older product of the studio from Wrocław – Let’s Fish which do far has been the most popular fishing game in the world.
“We’ve already published about 200 games. Our projects differ in scale and size, but they all are profitable. It’s an outcome of our business model and effective implementation of tools made by our Business Intelligence team and knowledge of successfull monetization. We’d like to stress that our company has been making profits from the very beginning.” – said Maciej Popowicz, CEO of Ten Square Games.
“Being listed on the stock market will make it possible to evaluate our business and help develop its value. Motivated and qualified people are the most important in our industry. We want to take advantage of the admission of our company to bond them closer to Ten Square Games” – added Arkadiusz Pernal, COO.
The Management Stock Option Plan presented in the Prospectus envisages that the dynamic increase of EBITDA result will continue in the next years. The Prospect envisages EBITDA profit of PLN26 million in 2018 and PLN31,5 million in 2019. Recently, the target was increased – at the beginning it was respectively PLN22 million and PLN27,5 million of EBITDA profit.
“The increase of targets in the Prospectus in the last days is the outcome of spectacular results of Fishing Clash. We assumed it would be successful but the reception of the game and generated profits significantly surpassed our assumptions.” – stressed Arkadiusz Pernal.
According to initial evaluation of the company, Fishing Clash generated a profit of PLN3,8 million only in March – it’s 70% more than in the previous month. The fact that the highest monthly profit of Let’s Fish was PLN1,4 million us a proof of the scale of the company’s success. Ten square Games is planning to publish the Prospectus on the 10th of April.
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