Playing it cool: Playside Studios see share price double after IPO

Australian independent games developer Playside Studios is looking to take a slice of the US$200 billion global gaming industry following a successful mid-December IPO.
Australian independent games developer Playside Studios is looking to take a slice of the US$200 billion global gaming industry following a successful mid-December IPO. The games developer – one of the largest independent studios in Australia – successfully completed a $15 million IPO prior to listing on 17 December 2020. The IPO saw the business issue 75 million shares at 20 cents a piece. The company hit the exchange with a market capitalisation of $73 million, but quickly saw that figure rise after the share price climbed to 31 cents by end of trade – a 55% increase. That momentum continued to trend upward to end the year at 46 cents per share, and remaining above 40 cents each since the start of 2021. The company has also recently revealed the details of its latest foray into the world of PC gaming. The new title, Age of Darkness: Final Stand is a real-time strategy game in which players “must build the final citadel of humanity and defend it against swarms of undead”, the company said in a statement. Early access to the game, formerly referred to only as “Project Achilles”, will be available from April 2021. It will be the latest addition to the business’ growing library of titles – now in excess of 50 games, including a number made through partnerships with major Hollywood studios like Walt Disney and Nickelodeon.   Fun and games for IPO investors Playside’s solid performance following its IPO was enough to put the company in Australian investment news site Motley Fool’s list of best performing IPOs in 2020 – despite floating mere days from the year’s end. Dean Fergie, director and portfolio manager of Cyan Investment Management, told Motley Fool that Playside has “seen strong revenue growth in recent years”. And the coming year could prove to be a big one for the business, he added.  
“Given the massive growth in the global gaming industry and Playside’s established positioning and strong commercial ties with multinational media companies, we believe 2021 could be a huge year for the company,” he said.
  Other companies which performed well on debut included software company Nuix Ltd (ASX: NXL), financial technology firm Doough (ASX: DOU), and medical technology business 4DMedical (ASX: 4DX) More than 110 businesses listed on the ASX in 2020, marking a 25% increase on the previous year. To stay updated with the latest company news and announcements, please register your details on Playside Studios’ investor centre.   Reach Markets have been engaged by PlaySide Studios to assist with private investor management.   Sources:

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