Embracer shares soar 18% on plans to break company apart

Shares still down 75% from all-time high in April 2021

Embracer shares soar 18% on plans to break company apart

Shares in beleaguered publisher Embracer Group soared by as much as 18% this morning as it unveiled plans to split into three separate publicly traded companies.

The company is set to spin-off its assets into tabletop publisher and distributor Asmodee, mid-sized specialist PC, console and mobile developer and publisher Coffee Stain & Friends, and triple-A outfit Middle-Earth Enterprises & Friends.

Shares closed Friday at 25.32 kr ($2.3), but rose to 29.95 kr ($2.7) on the news. However, shares still remain approximately 75% down from their all-time highs in April 2021.

Crisis point

The company has struggled with debts of $1.5 billion and the failure to close a $2 billion investment deal, reportedly with Savvy Games Group, to fuel its M&A strategy and production pipeline.

That failed deal sparked a crisis at the publisher, resulting in more than 1,000 layoffs and the sale of businesses such as Saber Interactive, Gearbox and now the three-way split of the entire company.

Asmodee is expected to list its shares within the next 12 months. Coffee Stain & Friends will split off later in 2025.

Shares of both companies will also be distributed as a dividend to Embracer Group shareholders.

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Craig Chapple is a freelance analyst, consultant and writer with specialist knowledge of the games industry. He has previously served as Senior Editor at, as well as holding roles at Sensor Tower, Nintendo and Develop.