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Singapore video game company's Nasdaq listing values it at US$1.2 billion

Singapore video game company's Nasdaq listing values it at US$1.2 billion

By Swedan Margen

Fashion

Grand Centrex Limited (GCL) aims to eventually build a sizeable game studio in Singapore, capable of producing blockbusters

VIDEO game distributor and publisher Grand Centrex Limited (GCL) has come a long way.

The company got its break in2008, distributing physical copies of the popular video game Grand Theft Auto IV. More recently, it was one of the publishers behind Black Myth: Wukong – the company has global publishing rights for physical copies of the game.

GCL on Friday (Feb 14) debuted on Nasdaq via a business combination with special purpose acquisition company (Spac) RF Acquisition at US$3.10 per share – down 69 per cent from its initial public offering price of US$10.

The business combination, which valued the company at US$1.2 billion, raised US$42.9 million.

The GCL group of companies comprises: video game publishers Epicsoft Asia and 4Divinity; video game distributor 2Game; and Titan Digital Media – the influencer marketing company owned by YouTube personality Tan Jianhao.

Copyright SPH Media. All rights reserved.

Originally published by businesstimes.com.sg. Syndicated material does not necessarily reflect the views of Grazia British.

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