Starbreeze up-lists to Nasdaq Stockholm
Leaving First North Premier exchange will increase its reach with potential investors
Starbreeze will up-list from the Nasdaq First North Premier stock exchange to Nasdaq Stockholm, as a means of improving its investment options.
In a statement released today, Starbreeze described this as "a logical and important step" for its growth plans. A motivating factor in up-listing to Nasdaq Stockholm is the ability to reach a broader group of investors, including, "Swedish and international capital markets and their institutional investors."
"Starbreeze has had an amazing journey since 2014, when we were listed on First North Premier," said CEO Bo Klint Andersson. "Having previously operated only as a game developer working with external game publishers, we now own our internal product development and run a successful publishing business with externally developed games to broaden our portfolio.
"We've also expanded the business ventures in the Virtual Reality (VR) segment, including the development of the StarVR head mounted display and by taking a stake in the location based VR market."
The Swedish company is now radically different to the developer that made Syndicate for EA in 2012. As Bo Klint Andersson described, Starbreeze now has a diversified business, though much of its revenue comes from two games: longstanding earner Payday 2 and, more recently, Dead by Daylight.
The company's most recent financial report showed rising costs associated with a number of longer term bets, such as its VR business, its publishing arm, and new projects from internal studios, most notably Overkill's The Walking Dead.