Morning All, Mighty Kingdom is listing today at 11am. It is priced extremely favourably to its main competitor Playside Studios. They are on track to exceed their revenue target of $8m in FY21 but this is just the tip of the iceberg as their big contracts with Disney and Pixar will start to bring in serious revenue in the first half of FY22. This is due to newly negotiated, more lucrative contacts where Mighty Kingdom gets paid substantially more for developing the games and gets a larger share of the revenue. I have taken a large position in the IPO and will buy a bit more on market. Once they land these types of contracts with big names like Disney and Pixar, these smaller developers become acquisition targets for companies like newly listed gaming conglomerate Roblox that is dependant on acquisitions for growth. 80% of SOI escrowed with the remaining 20% mainly covered by friends of the broker who won’t sell short term. DYOR but this thing will explode in the short, medium and long term.
