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StarVR files for $16.4m IPO in Taiwan

Virtual reality arm of beleaguered developer Starbreeze prepares to go public

StarVR Corporation today announced that it has completed its application for public issuance in Taiwan.

Following approval, the company board intends to further apply to the Taipei Exchange and be listed on the Emerging Market board in mid-April.

The total share capital of StarVR Corporation is 48,218,000 shares of common stock at the par value of NT $10 (USD $0.34) and is expected to be traded between April and May 2018 upon approval.

"VR has great potential in the enterprise and location-based entertainment market, and we've built StarVR specifically for professional use in close collaboration with our clients and industry partners," said Bo Andersson Klint, chairman of StarVR Corporation.

The location-based entertainment platform is currently featured on sites around the world including IMAX VR centres in Los Angeles and New York, the Sega Game Centre in Tokyo, and the newly opened VR Park in Dubai.

StarVR Corporation, the virtual reality arm of Swedish developer Starbreeze, recently fell under majority control of hardware developer Acer.

Starbreeze has fallen into financial difficulties lately, posting a pre-tax loss of $22.2 million for 2017 following the delay of its next big release, Overkill's The Walking Dead. In order to stay afloat, the company executed a new share issue worth $29.9 million.

Just last week Starbreeze opted to sell the publishing rights to Dead by Daylight, a game the company described in February as its "star performer".

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