Bridge News - Credit Suisse to launch Mindark at the Stock Exchange

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Yesterday, December 4, 2007, MindArk announced in a press release the process of preparing for its upcoming IPO together with Credit Suisse, which will likely include an offering of newly issued registered shares as well as existing shares.

In the financial newspaper, Dagens Industri in Sweden, Jan Welter also confirms that the goal is to go public during the second part of 2008, with the aim to be listed at the London Stock exchange.

MindArk has after a time, with different opportunities finally appointed one of the world´s leading banks, Credit Suisse to help the company evaluate its strategic alternatives including planning for the IPO.

MindArk intends to use the proceeds from the newly issued shares to implement its quantum growth strategy, in particular the expansion of its market position and pursuit of potential acquisition opportunities.

Jan Welter, CEO of MindArk, said in the pressrelease “As a publicly traded company MindArk will be able to acquire intellectual property and make strategic acquisitions that will enhance and expand Entropia Universe as the leading Virtual platform for Entertainment, Commerce, Education and Avatar Development. The IPO will also give us an opportunity to substantially expand our development team and to further develop our many current virtual systems and user tools employed by users to engage in commerce, as well as to develop new ones.”

Credit Suisse is active in over 50 countries and employs approximately 45,000 people. Credit Suisse’s parent company, Credit Suisse Group, is a leading global financial services company headquartered in Zurich.

”We are really excited about this news that brings the many Bridge shareholders in Mindark one step closer to the public market at the Stock Exchange. Credit Suisse has brought many other visionary tech companies to the Stock Exchange, including Google and Yahoo at multi billion valuations, says Mats Jäderberg, one of Bridge representatives in Europe”

Entropia Universe’s user base has grown steadily from 30,000 in 2003 to in excess of 650,000 in 2007 and is now recognized globally as one of the most secure, financially dynamic and immersive virtual platforms available.

In May, 2007 MindArk and Chinese Cyber Recreational Development Corp under supervision of China goverment, signed an Agreement to Create the Largest Virtual World Ever for China. The project will permit up to 7 million concurrent users logged into the virtual universe with an overall aim to attract some 150 million users from all over the world and is expected to generate over $1 billion annually in commerce from this partnership.

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