Now owns 8% of outstanding shares.
Here’s a late night news story to leave you dreaming. Gamigo parent Media & Games Invest announced a strategic investment in Enad Global 7, parent company of Daybreak Games. The investment involves MGI taking a strategic minority position of 7.1 million shares of EG7, approximately 8% of the total outstanding shares.
To put it into perspective, this should make MGI the second largest individual shareholder in EG7 as according to EG7’s latest report Georgy Chumburidze holds 9 million shares (10.38%), and below him is Dan Sten Olsson with 6.9 million shares (7.93%) with 47% of the company’s stock held among “other shareholders.”
Media and Games Invest SE (“MGI” or the “Company”, ISIN: MT0000580101; ticker M8G; Nasdaq First North Premier Growth Market and Scale Segment Frankfurt Stock Exchange) has acquired a strategic minority position of 7,126,190 shares of Enad Global 7 (“EG7”), equivalent of approximately 8% of the total number of outstanding shares. The EG7 shares were acquired at Nasdaq First North Growth Market during the last months at a weighted average price of SEK 38.1522 per share. MGI views EG7 as currently being undervalued.
Enad Global 7 recently shook up the news by confirming that a Marvel-based MMO is currently in development.
Source: Media & Games Invest