Winking Studios plans a dual listing on London’s AIM market to enhance its Western market presence.
- The company, already on Singapore’s Catalist board, aims to access the UK’s tech investment resources.
- CEO Johnny Jan sees London as strategically important for understanding the global gaming sector.
- The firm aims to expand in Europe and North America, leveraging its $30m cash reserves.
- Recent changes to London AIM tax reliefs have impacted other firms, but Winking plans to capitalize on growth opportunities.
Winking Studios, a prominent game art outsourcing company from Singapore, is preparing for a dual listing on the London AIM market. This move is intended to strengthen their hold in the Western gaming industry. The studio is seeking to harness the substantial technological investment resources available in the UK, thereby promoting expansion in a rapidly evolving sector.
Founded in 2004 by Johnny Jan, Winking Studios has rapidly risen through the ranks, becoming a key player in the game art industry. It holds the third position in Asia and the fourth worldwide by revenue, indicating its significant impact on the global market. The company operates nine offices across Asia and collaborates with 22 of the world’s top 25 game developers including major names like Ubisoft and EA. These collaborations have contributed to iconic games like FIFA and Assassin’s Creed, showcasing the studio’s impressive breadth and influence.
London has been identified by CEO Johnny Jan as a prime location for the company’s strategic listing due to the city’s deep understanding of the gaming market and its support for international growth-focused companies. Jan believes that the dual listing on AIM will support Winking Studios’ global ambitions by accelerating growth and increasing their market presence significantly.
Winking Studios plans to utilize its substantial cash reserves of over $30 million and the funds raised through the AIM listing to bolster its presence in Europe and North America. This includes establishing a regional hub in the UK and acquiring smaller studios across these regions. The firm also plans to enhance its AI capabilities to maintain a cutting-edge position in the gaming industry.
The announcement of Winking Studios’ dual listing comes amid fluctuations in the AIM market, with recent tax relief adjustments affecting other companies. However, the firm is optimistic about leveraging these market dynamics to encourage future growth. The decision to partially remove inheritance tax breaks has led to a significant rise in market stocks, providing a favorable environment for Winking Studios’ expansion plans.
Winking Studios is poised to strengthen its global presence through strategic expansion initiatives in London and beyond.
