Winking Studios WKS has proposed a secondary listing on the London Stock Exchange’s (LSE) sub-market AIM to boost its European presence in the global gaming industry.
The company says that the proposed AIM listing will provide an additional quoted platform for its securities to be traded via an established stock exchange in Europe, while enabling the company to gain access to a diversified base of shareholders and investors comprising new institutional and private investors in the UK and Europe.
This has the potential to allow the company greater flexibility to access the capital markets in these regions to conduct fundraising and other strategic investment exercises, such as potential merger and acquisition opportunities should they arise, says Winking Studios.
With a wider and more diversified shareholder base, the company also hopes to improve the trading liquidity of its securities on its trading platforms. The company may also seek to raise additional capital from investors at the time of the secondary listing.
Winking Studios adds that it believes a dual listing presents an excellent opportunity to increase the market visibility and profile of the group globally, as well as to enhance the company's corporate branding and reputation with existing and new clients.
The company has appointed Strand Hanson as its financial adviser and nominated adviser in the UK in relation to the proposed AIM listing, and is in the process of appointing other professional advisers, including legal counsel, for the purpose of advising on the secondary listing.
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As at April 26, preparatory work for the proposed AIM listing is on-going and no application has been made to any regulatory authorities, including the LSE or the Singapore Exchange S68 Securities Trading (SGX-ST) in connection with the dual listing.
Winking Studios says it will continue to keep shareholders updated and release announcements relating to the proposed AIM listing when relevant.
Shares in Winking Studios closed unchanged at 25 cents on April 26.
