The tech company Play Magnus today been admitted trading – The FINANCIAL

Chess Tournament

The FINANCIAL --Play Magnusrecently raised NOK452million througha private placement, consisting of NOK 300 million in new shares and approximately NOK 152millionto existing shareholders.The issue was significantly oversubscribed. The shareholders have provided the company with NOK 300 million in fresh equity, which will be used for technology development and further growth, states the company.

This is a milestone in the companys history, and we are proud that many strong institutional investors have decided to join the team. Now, we are ready to take the next step for the company, and a listing on Merkur Market will be important for the companys ability to continue its strong growth,says co-founder and chairman of the board of Play Magnus Group,Anders Brandt.

The companys unique vision is to make chess available to new target groups all over the world. In addition, our model will help many more chess players and coaches to be able to make a living from chess. The company has just started on this journey and I look forward to being part of it going forward,says Magnus Carlsen.

Play Magnus offers services where everyone can play, watch and learn chess. The group's services consist of the Play Magnus App Suite, chess24,ChessableandCoChess. In addition, in 2020 the group launched a professional online chess tournament, the Magnus Carlsen Chess Tour.

The market is growing, and to achieve our ambitious goals, we must continue to invest. In the future, we will invest heavily in technology development and we will not rule out further acquisitions. We will build on the success of the Magnus Carlsen Chess Tour and further develop this to its full potential, says AndreasThome, CEO of Play Magnus.

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The tech company Play Magnus today been admitted trading - The FINANCIAL

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