Funcom Applies For Public Stock Exchange Listing

Representatives from Norwegian publisher and developer Funcom have announced that the company has applied for public listing on the Oslo Stock Exchange (OSE). The public listing is subject to market conditions and final approval from the OSE. Known for massively multiplayer online (MMO) games such as Anarchy Online and the forthcoming Age of Conan - Hyborian Adventures, the company now has one million registered users in its community. Funcom gained €5 million ($6.1 million) of additional venture capital funding in August and was one of the first publishers to attempt free MMO play in the West, with an advertising-led profit model. As well as its Norwegian headquarters, the company currently also operates offices in Switzerland, Luxemburg, the U.S. and China. "There is a considerable market potential for MMOs, and Funcom is a world leader in both technology and quality within the segment," said Torleif Ahlsand, chairman of the board of directors at Funcom. "The listing and subsequent issue will strengthen Funcom’s financial position, its flexibility and enables the company to further strengthen its product pipeline, as well as pursue attractive investment opportunities in the years to come." "An application for a stock exchange listing is a natural next step for Funcom and demonstrates the maturity of our company" said CEO Trond Arne Aas. "Access to a regulated and efficient market will enable us to pursue our strategy of becoming a global leader in subscription-based online gaming, and increases Funcom’s strategic opportunities."