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MAG Interactive plans $68m IPO

Ruzzle developer targets listing on Nasdaq First North Premier, cornerstone investors already commit to $27m

Swedish mobile games firm MAG Interactive is planning to host an initial public offering before the end of the year.

The company is expected to offer 4.5 million shares, while certain shareholders intend to sell roughly 6.8 million shares, with the total planned for the offering expected to be over 13 million (13,047,280 to be exact).

The shares will be listed on Nasdaq First North Premier at a price of SEK 44 each. If all sell at that price, the firm will generate a little over $68 million.

Key investors in the Ruzzle developer have already committed to subscribed to a total of 5.2 million shares, with a combined value of SEK 230 million ($27m).

These investors include: Didner & Gerge Fonder, which plans to spend SEK 75 million ($8.89m); Handelsbanken Fonder (SEK 55m / $6.5m); Ram One (SEK 40m / $4.7m); Chalex, via Chalex i Göteborg (SEK 40m / $6.5m); and Swedbank Robur Fonder (SEK 20m / $2.4m).

MAG Interactive is best known for mobile word title Ruzzle and its various spin-offs. Its ten titles have achieved combined downloads of more than 200m, a milestone partly reached with the help of its recent FEO Media acquisition.

The Swedish developer has been profitable every year since it was first founded in 2010.

"It has been an exhilarating journey since the launch of Ruzzle in 2012," said CEO and co-founder Daniel Hassenberg. "We are fortunate to have some astonishing, ambitious, hard-working and driven people in this company. Together we have come far, but we are nowhere near done. We are still at the beginning of our journey with the listing being an important milestone, and an important step for us as a company."

We spoke to Hassenberg earlier this year about the company's journey and how it has accomplished such strong retention in a competitive mobile market.

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James Batchelor avatar
James Batchelor: James is Editor-in-Chief at, and has been a B2B journalist since 2006. He is author of The Best Non-Violent Video Games
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