Coffee Stain starts trading after Embracer spin-off
Photo: AP Photo
Video game developer Coffee Stain Group began trading on the Nasdaq First North exchange on Thursday following its spin-off from Swedish gaming group Embracer.
The separation of Embracer’s independent game studios into Coffee Stain is part of a broader restructuring plan that also included listing board game maker Asmodee earlier this year, News.Az reports, citing Reuters.
Coffee Stain shares opened at 26.62 Swedish crowns, while Embracer shares, trading without Coffee Stain rights, opened at 60.71 crowns, marking a roughly 30% reduction in its market value. Embracer’s market capitalization fell from 18.7 billion to 13.2 billion Swedish crowns ($1.4 billion) post spin-off.
Similar news
