Embracer sets investor event for Coffee Stain unit ahead of spin-off
Embracer Group will hold a virtual capital markets event for its Coffee Stain unit on Nov. 17, a key step ahead of the division's planned spin-off and separate stock market listing.
The event will showcase the game developer's portfolio, growth strategy, and financial profile to investors and analysts, the company said Wednesday.
The move is part of a major restructuring by the Swedish video-game company to split itself into three independent, publicly listed entities following a period of poor financial performance that included a sharp drop in profit.
Embracer plans to list Coffee Stain, known for titles like "Goat Simulator" and "Valheim," on the Nasdaq First North Premier Growth Market in Stockholm by the end of 2025.
"Now, as we take the step to become a separately listed company, it feels both exciting and, honestly, a little bit scary—but in a good way," Coffee Stain CEO Anton Westbergh said in a previous statement when the plan was announced.
The company has scheduled an extraordinary general meeting for Nov. 3 for shareholders to vote on the proposal to distribute Coffee Stain's shares.
After the spin-off, the remaining Embracer business is set to be renamed Fellowship Entertainment, according to the company.
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Embracer Group said Monday it will provide its video game unit Coffee Stain Group with 500 million Swedish Kronor in net cash as it prepares to spin off the business in a separate stock market listing.
Embracer Group reported a 79% plunge in second-quarter adjusted operating profit, as weak performance from new video game releases weighed on results amid a major corporate restructuring.
Embracer Group shareholders on Monday approved the spin-off of its Coffee Stain video game unit, advancing the Swedish company's plan to split into three separate publicly listed entities.
Embracer Group has published an information brochure for the planned spin-off of its Coffee Stain video game unit, moving forward with a key part of its major restructuring plan.