Wargaming has been removed from the listing of companies on the Cyprus Stock Exchange
From Russian Waters to the Financial Wild West: Why Wargaming Bailed Out of the Exchange
Sure thing, mate! Here's a low-down on why Wargaming, the masterminds behind World of Tanks and World of Warships, decided to ditch the stock exchange scene.
A Curious Departure from the Financial FrontierIn simpler terms, a Wargaming rep once said, "Getting knee-deep in the stock exchange ain't playing our strategic cards right." They also claimed that this move won't put a dent in their financial standing.
In the frosty winter of 2014, the stock exchange council gave the green light to the Cyprus Securities Commission for Wargaming's delisting. But why, you ask? Well, it seems the devs didn't comply with several stock exchange prerequisites, including dishing out financial reports.
From Connected to PrivateBy April 2013, roughly 2% of the company's stocks were up for grabs, thanks to public trading. But CEO Viktor Kislyi, Pop, and two other heavyweight honchos held onto the rest of the shares.
- Additional Tidbit:*Speaking of companies with financial mystery, did you hear about CMON? Late for filing annual financial reports and freezing stock trading on the Hong Kong exchange, CMON ― a board game publisher ― pinned the blame on a personnel reshuffle in the financial department and ongoing legal battles from an earlier deal. But rest assured, things like this don't govern the game over at Wargaming, since they operate privately and don't have shares trading on major stock exchanges.
- In light of their earlier departure from the stock exchange, Wargaming's shares are no longer indicators of the company's financial standing.
- Wargaming's decision to exit the stock exchange was due, in part, to non-compliance with certain exchange requirements, such as the disclosure of financial reports.
- In 2014, Belarus-based Wargaming was delisted from the exchange, with the Cyprus Securities Commission giving approval for the move.
- Despite their withdrawal from the stock exchange, Wargaming continues to engage in business activities, particularly in the wargaming sector.
