You can play them on the train, you can play them with your mates, and soon you'll be able to play the stock market with mobile games.
A Singapore-based tech investment outfit plans to spin off two of its mobile games businesses and list them on the Australian stock market.
Fatfish Internet Group, which listed in Australia in 2014, said on Wednesday it will launch its new company iCandy on the ASX by the end of the year.
Chief executive Kim-Wai Lau said Fatfish was drawn to the ASX because it has barely any listed games developers, compared to exchanges in the US and Hong Kong where they are plentiful.
"So there's opportunity for (Australian) investors to get exposure to a fast-growing market," he said.
The new company is made up of two Fatfish mobile games subsidiaries, Kensington Ventures and Appxplore, whose smart phone puzzle and action games have racked up combined downloads of 12 million to date.
With combined annual revenues of under a million dollars, two studios forming iCandy are relatively small.
But Mr Lau said the mobile games industry is roaring with growth, offering great opportunity for developers.
"It's now larger than the console game industry," he said.
"We're talking about a $40 billion worldwide industry, growing at 20 per cent."
Mr Lau said listing the company in Australia will allow it to tap into a new investment market so it can expand.
Fatfish has floated companies in other markets around the world, but Mr Lau said the transparent, well-regulated ASX was the ideal option for iCandy.
"Australia has a high standard of regulatory framework - it allows investors to invest comfortably." he said.
"In terms of raising funds - we think it's the ideal market for small to medium IT companies."
Fatfish, which supports internet startups from seed funding through to exit stage, currently has 13 businesses in its stable.
Share
