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Sorainen Advises on Punktid Technologies IPO

Sorainen Advises on Punktid Technologies IPO

Estonia
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Sorainen has advised Punktid Technologies on its IPO and admission to trading on Nasdaq First North.

“Punktid Technologies is a holding company established and operating in Estonia which has two subsidiaries, Gamekeys and HVK Business,” Sorainen informed. “The Punktid group owns and develops the largest online sales environment for digital codes of video games, Nintendo, PlayStation, and Xbox in Estonia, where professional support is provided in the local language to both beginners and experienced gamers. In addition to Estonia, the online sales environment chain is also managed in Latvia, Lithuania, Finland, and Ukraine, as well as in international English and Russian-speaking sales environments.”

According to the firm, “up to 300,000 shares were publicly offered ... A total of 176,378 shares were subscribed for during the offering. The proceeds from the offering amounting to approximately EUR 794,000 will be used for technical updates of the Punktid website and Punktid application development, expansion of the team and recruitment of new staff, expansion of marketing and sales activities, as well as a for maintaining a reserve to cover possible unforeseen expenses related to the expansion.”

Sorainen’s team included Partners Katlin Krisak, Paul Kunnap, and Kaido Kunnapas, Counsel Jane Eespold, Senior Associate Robin Teever, Associates Mirjam Metsik and Kamilla Alma Vilderson, and Assistant Lawyer Karl Joonas Kendla.

Sorainen did not respond to our inquiry on the matter.

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