Mobile developer Mighty Kingdom has filed an Initial Public Offering on the Australian Securities Exchange.
The studio successfully raised $18 million at $0.30 per share, and public trading began April 21. At this IPO price, Mighty Kingdom predicts a market capitalisation of $46 million.
This filing followed a $4 million pre-initial public offering launched back in December 2020.
With this new capital, Mighty Kingdom aims to develop original IP and attract new talent to its 110-strong roster.
Mighty Kingdom has released more than 50 since its formation in 2010. Notable releases from the company include licensed mobile titles Shopkins, LEGO Friends: Heartlake Rush and Gabby s Dollhouse, as well as original games such as Ava s Manor.
Image: Conan Chop Chop (Mighty Kingdom)
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It’s taken a while, but homegrown Australian developers are starting to really grow up. One Aussie developer already launched a massive listing on the Australian Stock Exchange (ASX) last year, and sports developers Big Ant were recently bought out in a huge deal. South Australia’s Mighty Kingdom is the next studio to enjoy a massive injection of funds, with the company announcing they will list on the ASX tomorrow.
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Gaming outfit Mighty Kingdom completes $4m pre-IPO
December 21, 2020 3:30
Australia’s largest independent game studio, Mighty Kingdom, has completed its A$4 million pre-initial public offering (pre-IPO).
The announcement:
It received strong demand from institutional, family and sophisticated investors, resulting in a heavily over-subscribed offer, exceeding expectations.
Mighty Kingdom- Anthony Lawrence and Philip Mayes. (Photo Credit James Elsby).
Founded in Adelaide in 2010, Mighty Kingdom has grown to over 80 developers, with minimal outside investment. In the past decade it has released more than 20 games to more than 50 million players worldwide across multiple platforms.
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Mighty Kingdom Founder and CEO, Philip Mayes, said strong partnerships with some of the world’s largest brands such as LEGO, Disney and Sony have trusted the company with their brands and Mighty Kingdom has developed technical know-how to validate its games to compete on the world s