From the prospectus , Media articles and Company presentation
MIGHTY KINGDOM LIMITED
IPO Price $0.30
SOI 151 Mil
Mcap $ 45.5 Mil
Cash $ 18mil
EV $ 27.5 Mil
Mighty Kingdom is
Australia’s largest independent game developer with over 80 staff.
It was named the 2019 Studio of the Year at the 2019 Game Connection Asia Pacific Game Developer Awards,
Australia’s most prestigious game developer award. To-date, Mighty Kingdom has released more than 50 games, with more than 50 million downloads.
Its current in-market games include
9 Shopkins games, LEGO Friends: Heart lake Rush, Snap’s Sugar Slam, Wild Life: Puzzle Story and Ava’s Manor.Within the first half of 2021, Mighty Kingdom is scheduled to release
Conan Chop Chop (its first console game) and Sony Pictures’ Peter Rabbit Run.Mighty Kingdom also has several other games in development with release schedules throughout 2021/2022.
Tier-1 Partners –
Mighty Kingdom has partnered with global tier-1 brands and game developers, including Disney, Sony and Lego
Commercially Validated Platform –
Mighty Kingdom has released more than 50 games to over 50 million players worldwide across multiple platforms
Last week was a bit of a disaster in terms on IPOs as there were 7 IPO listings last week . Some of them performed well and some did not performed as well as I expected
This week we are back to normal and we have MKL listing today
It is extremely rare that under 30 mil EV company got global tier-1 brands and game developers partners including Disney, Sony and Lego
Management in their interviews suggested a strong Growth in revenues in FY21 and FY22
IMO Mighty kingdom MKL and Playside PLY are the only revenue making legit gaming plays on ASX
IMO MKL will replicate the success of PLY IPO
It should open around 45c to 50c ( at 50c It will be 57 mil EV ) and with the launch of their new games it will get some more traction
And as we all know if one or two of their games will go viral .. It wouldn't take them long to achieve blue sky revenues scenario !
Its a good risk/ reward proposition at 27.5 mil EV
I have participated in the IPO and I intend to hold it for medium to long term ( subject to Market conditions)
Please DYOR
GLTAH
ALL IMO
