Funcom completes Oslo IPO

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Online game publisher Funcom has been floated on the Oslo Stock Exchange with a market capitalisation of NOK 629m. The new issue was 40% oversubscribed. The offering included 12.65 million shares and the selling shareholders decided not to complete the secondary sale. With a share price of NOK 15, the application period for shares started on 25 November. Norwegian private individuals have been invited to subscribe and Carnegie and ABG Sundal Collier act as managers.The company, which develops subscription-based massively multiplayer online games, is backed by Northzone Ventures, Teknoinvest, Stelt Holding and Nordic Venture Partners. Torleif Ahlsand, chairman of Funcom, says: â€˜The listing and subsequent issue will strengthen Funcomâ€™s financial position and enables the company to further strengthen its product pipeline, as well as pursue attractive investment opportunities in the years to come.â€™With offices in Norway, Luxembourg, Switzerland, the US and China, Funcom employs 135 people. The business has released 24 games to date. Currently, in excess of one million players are registered in the Funcom community. Read more about the IPO in the next issue of Nordic unquoteâ€.