In a half-friendly, half-serious way, I've been baiting Gameloft's French corporate PR team for its somewhat lackadaisical approach to its financial announcements.
Hopefully, however, this is all going to change as the Paris-based mobile publisher looks to tap into US investors, who are pretty keen on getting timely information.
The company has appointed Deutsche Bank as the depositary for its new Sponsored Level I American Depositary Receipt (ADR) program, which is designed for non-US companies.
This means shares in Gameloft (EPA:GFT) - technically each Gameloft ADR is represented by four Gameloft shares - will be available in the US over-the-counter market from 27 October.
This is akin to proper shares on exchanges such as NASDAQ, but is less well regulated and hence more risky.
Getting the dollars
Not, of course, in the case of Gameloft, which is professionally run and profitable company.
In its case, it's a first step in allowing US investors to access its shares. No doubt, over time, the company will be looking to build up its US operations and hence upgrade its ability to raise cash from American investors, both big and small, with a listing on more tightly regulated ADR sponsored levels or even new exchanges.
"Close to 30 percent of Gameloft's sales are generated in North America and a significant proportion of the company's shares are held by US investors," said Alexandre de Rochefort, Gameloft's CFO.
"It only seemed natural for Gameloft to offer US investors the opportunity to participate even more in the future of our company and to improve the visibility of its stock in the US."
Scores on the doors
Gameloft posted consolidated half year sales of 76.8 million (around $110 million), up 15 percent year-on-year on 2 August.
Net profit was 5.3 million (around $7.5 million), static year-on-year due to the strength of the Euro against other currencies
And as seems to be the requisite ending in such situations, apropos of nothing, Gameloft shares in Paris ended the day down 0.26 percent at 3.82.
News
Contributing Editor
A Pocket Gamer co-founder, Jon is Contributing Editor at PG.biz which means he acts like a slightly confused uncle who's forgotten where he's left his glasses. As well as letters and cameras, he likes imaginary numbers and legumes.
Related Articles
Top Stories
News
Apr 18th, 2024
Fortis team boosted by top ex-King, PopCap EA, Microsoft and Warner Bros. Games talent
News
Apr 18th, 2024
UK skills crisis prompts call for games industry-led body to tackle key challenges
News
Apr 18th, 2024
AI joins the team at King: "Our challenge is to create the right amount of challenge"
News
Apr 17th, 2024
Monopoly GO! celebrates its first birthday and shares its behind-the-scenes story
Feature
Apr 15th, 2024
46 top mobile games in soft launch: CSR 3, Plants vs. Zombies 3, LEGO Hill Climb Adventures, Candy Crush Blast, and more
Feature
Apr 15th, 2024
Hot Five: XCOM Legends’ rumoured shutdown, Squad Busters verges on soft launch, and Royal Match reaches $3 billion
Events
HIT Games Conference Istanbul 2024 | Apr 18th | |
Game Job Fair – Spring Edition 2024 | Nordic | Apr 18th |
Arts DAO Fest 2.0 | Middle East | Apr 20th |
App Promotion Summit London | Europe | Apr 25th |
Esports Future Summit | Middle East | Apr 27th |
Dubai GameExpo Summit 2024 | Middle East | May 1st |
The MENA Games Industry Awards 2024 | Middle East | May 2nd |
GameDev Atlantic 2024 | May 4th |