Results of initial public offering of Punktid Technologies AS shares and allocation of new shares
The initial public offering of Punktid Technologies AS shares ended on 29 April 2022 at 16:00.
Up to 300,000 shares were publicly offered, Punktid Technologies AS reserved the right to increase the number of shares offered by 40,000 shares, up to a total of 340,000 shares.
A total of 176,378 shares were subscribed for during the offering.
“We would like to thank everybody that have believed in us and made the decision to invest in the development and future of Punktid group. Going public has been a challenge for all parties due to the economic situation of today but despite these challenges we will not give up our ambitions of expanding to new markets and continuing to show great growth going forward. I believe the proceeds from the offering will help us boost these ambitions and soon we will see more people join us, including the ones that decided not to subscribe to any shares at this time.
We understand that many potential investors might have been confused and felt unsure by a widely spread misunderstanding the media claiming that most of the revenue for Punktid Technologies AS comes from Ukraine, which is of course, false. However, we do believe that people who took a closer interest got the information from our company description or from our statements in the media, explaining that Punktid group does not have a direct connection with the Ukrainian market and it does not influence the company’s revenue. By looking at the results of the first quarter of this year, we can see that we have achieved fantastic results even while most of our focus was on the public offering. We will definitely continue this success and hope to surprise our current and future investors positively.” Hannes Niid, Management Board Member of Punktid Technologies AS.
The proceeds from the offering amounting to EUR 793,701 will be used for technical updates of Punktid website and Punktid application development, expansion of the team and recruitment of new staff, expansion of marketing and sales activities as well as a for maintaining a reserve to cover possible unforeseen expenses related to the expansion.
The new shares will be allocated to the investors participating in the offer under the following principle: a total of 176,378 shares will be distributed to investors accordingly with the number of shares subscribed by the investor.
The settlement of the offering is intended to take place on or about 5 May 2022. All shares of Punktid Technologies AS will be admitted to trading on the multilateral trading facility First North, the first trading day will be on or about 19 May 2022.
Contacts for additional information:
Management Board Member of Punktid Technologies AS
Tel: +372 53 095 817
Punktid Technologies AS is a holding company established and operating in Estonia which has two subsidiaries, Gamekeys OÜ and HVK Business OÜ. Punktid group owns and develops the largest online sales environment for digital codes of video games, Nintendo, PlayStation and Xbox in Estonia, whereas:
The main activity of Gamekeys OÜ is the mediation of the world's best-known video games and video game gift cards in an online environment and the related customer service and marketing both in Estonia and abroad; and
The main activity of HVK Business OÜ is the wholesale of video games and gift cards for business customers, sale of the right to use the Punktid.com platform to Gamekeys OÜ and development of the Punktid.com IT project.