18 December 2020 – IPO of PCF Group S.A. (People Can Fly) debut on the main market of the Warsaw Stock Exchange
At the beginning of the first session the quotation of PCF Group S.A. shares increased by 68%. 27.5 million of Series A shares along with 2.06 million of rights to Series B shares of PCF Group S.A. have been listed on the WSE. The value of the PCF Group public offering was PLN 203 million. The price of the shares has been set at PLN 50 for institutional investors and PLN 46 for retail investors.
PCF Group S.A. is the 433. company listed on the WSE Main Market and the fifth debut on this market in 2020.
“The stock exchange debut is a landmark for the PCF Group. It crowns an almost two-year long process of preparations for the public offering that was very demanding for all our team. Today, we are adding our strength to the group of AAA developers already listed on the market. Our IPO has evoked very strong interest from both retail and institutional investors that has translated into demand significantly exceeding the availability of the shares offered by our company. Although this is something to be proud of, we also understand that some investors may feel disappointed by the scale of reductions” said PCF Group President Sebastian Wojciechowski during an online transmission from the company’s WSE debut.
The proceeds from the issue will be used to pursue the Company’s strategic goals, including the development of the existing development team in all locations and soliciting new development teams, launching new development studios or acquiring other game developers. Additionally, after some necessary preparations the Company is planning to develop games in the “self-publishing” model, as their developer and publisher, based on its proprietary existing or new IP.
The PCF Group is a rapidly developing video games developer specializing in shooters and cooperating with the leading international game publishers. The PCF Group runs the People Can Fly development studio that was established in 2002 and is one of the three most experienced Polish developers of AAA games. Games developed by People Can Fly include award-winning titles acclaimed worldwide by gamers and media, such as Painkiller, Bulletstorm and Gears of War: Judgment.
Currently, People Can Fly cooperates with Square Enix on the largest production in its history in terms of the budget and complexity — an RPG shooter Outriders that is scheduled to be released on 2 February 2021. At the same time People Can Fly works on two other, new AAA games – with Take-Two Interactive on project Dagger and with Square Enix on project Gemini.