In the third of my three articles on interesting tech stocks listed on the Helsinki Stock Exchange, I take a look at gaming business Remedy Entertainment.
Remedy Entertainment
Remedy Entertainment listed in Helsinki Stock Exchange First North Growth Market in May 2017.
The IPO was a huge success, oversubscribed 9 times over. The market cap of the stock is €164 million and it is ready to move to the main list of the Helsinki Stock Exchange. The 52 week range is €6,8 to €13,55, closing on January 21st at all time high of €13,55.
What makes Remedy interesting is that it chose to list itself and build it’s own legacy and future. Most Finnish gaming companies have been sold early on and individual investors have not had a chance to participate on them.
Real pure play stock
Remedy is a “pure play” stock on gaming, but since it has been around from 1995 it has multiple games success history and different platforms.
The largest shareholder and founder of Remedy is Markus Mäki with a 27% stake.
This stock represents an interesting opportunity with the pullbacks in the market. Mr. Mäki and current CEO Tero Virtala both sold shares after the quiet period ended in the fall 2019 at an average price of €12,50.
They have not sold any stock in the last two years and Remedy shares still represent over 90% of their wealth.
Remedy is reporting its full results of 2019 on February 14th. Their results will include games such as recently released Control, which has won awards for its graphics and design.
