Gameloft taps up US investors with over-the-counter ADR share listing
Available via Deutsche Bank from 27 October
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.