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Funcom secures Oslo Stock Exchange listing

Massively Multiplayer Online game developer and publisher, Funcom, has successfully listed on the Oslo Stock Exchange, securing almost USD30 million for investment in company growth and a new product portfolio.

Massively multiplayer online game developer and publisher, Funcom, has successfully listed on the Oslo Stock Exchange, securing almost USD30 million for investment in company growth and a new product portfolio.

Funcom originally announced its intention to float the company in November, as the board of directors continued their efforts to stimulate growth and provide the firm with an increased financial flexibility for both its product pipeline and potential investment opportunities.

Gaute Godager, co-founder and game director on the company's forthcoming Age of Conan title, had the honour of ringing the bell to mark the first day of trading, which has already afforded the firm a significant boost in its financial position.

Torleif Ahlsand, chairman of the board of directors for Funcom, commented: "This is an historical step for Funcom, and marks a new era for the company. The stock exchange listing not only allows Funcom to release more titles, it enables the company to pursue its growth strategy."

"The fact that we have been able to secure close to USD 30 million with the listing means that we can further improve the quality on all aspects of our forthcoming online games," added Funcom CEO Trond Arne Aas.

"We are naturally thrilled about this recognition. The games market is set to further expand its growth, and with the listing Funcom can continue to deliver the needed quality to take part in this evolution."

Established in 1993, Funcom has released 24 titles to date, including the multi-award winning Longest Journey and Anarchy Online games. Specialising in MMO and online action RPG titles, Funcom is currently developing a further four games. The flexibility afforded by the OSE listing will be leveraged to expand the existing product line-up in the coming 12 months, in addition to seeking additional investment opportunities for the continued expansion of the company.

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Paul Loughrey

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