The group will be the largest shareholder of the company, therefore, the withdrawal of My.Games outside the perimeter will not affect the holding’s capitalization, the Bell sources say.
My.Games, the gaming division of Mail.ru Group, may go public in 2021, reports The Bell, citing sources familiar with the Internet company’s plans. Mail.ru Group expects an approximate estimate of $ 2.5-3 billion, the newspaper writes.
Now My.Games is wholly owned by Mail.ru Group. After entering the stock exchange, the group plans to own the majority of the company’s shares, therefore, “this should not greatly affect the capitalization of Mail.ru Group,” the source said.
“Games companies are more expensive than advertising business, so when My.Games is outside the group, it will cost more. It turns out that internally the company can lose $ 1.5 billion, but outside it will receive $ 3 billion, ”the newspaper quotes his interlocutor.
Another source, The Bell, believes that convincing shareholders to move something outside the company’s perimeter is “very difficult”: “This is a placement that people inside [игрового бизнеса Mail.ru Group], but they cannot budge the situation. “
A spokesman for Mail.ru Group told the publication that the company would not comment on market rumors.
According to other interlocutors of The Bell, My.Games is a way for Mail.ru Group to enter the international market. The rest of the group’s assets are “very local”.
The gaming division is “quite independent” even within the holding itself, according to The Bell’s interlocutors in the gaming market: “They even leave all the purchased studios separate, so as not to lose entrepreneurs and not make them Mail.ru Group employees.”
Holding singled out a gaming division into a separate brand My.Games in May 2019. Prior to that, the company’s gaming projects came out under the delusions of Mail.ru Group and My.com.