With the proceeds from its IPO, Winking Studios is expanding its presence in North Asia, Southeast Asia and Europe. Since listing, the company has made a series of acquisitions. In December 2023, it purchased Taiwan-based On Point Creative. In April 2024, it acquired Malaysian art and animation outsourcing firm Pixelline Production. On Jan 17, it announced the acquisition of Shanghai Mineloader Digital Technology in China for $27.2 million — its largest deal to date.
Winking Studios, listed in November 2023, has emerged as one of the top-performing IPOs on the Singapore Exchange (SGX:S68
) (SGX). From an IPO price of 20 cents, shares in the company have steadily gained to close at 32 cents on Jan 20, a gain of about 8.5% for the day following the announcement of its latest acquisition in China. This brings the group’s maket capitalisation to $145.6 million.
The company also claims to be the third-largest gaming development and production player in Asia and the fourth-largest globally. It is 64.2% owned by Acer Gaming, the e-sports division of leading Taiwanese hardware and electronics giant Acer Inc, with both companies listed on the Taiwanese Stock Exchange.
