Saudi Arabian Game Company (EGDC) Controlling Shareholder of SNK Stock

[Shortbread]

Saudi Crown Prince Mohammed Bin Salman owns EGDC

On the 26th, SNK signed a stock transfer agreement with Saudi Arabian game company'Electronic Gaming Development Company (EGDC)', which entails a change of the largest shareholder. Through this, SNK shares purchased by EGDC amounted to 6,06,579,98, and the transfer price alone amounted to 207.3 billion, 4572 million won. The related transfer agreement will also include 94,7781 shares of China's Perfect World, the current second largest shareholder.

 

[Nesh]

Well, I only hope my sexy SNK women dont end up dressed in Abaya and Hijab

 

[JPT]

You think they want SNK to make games for their markets or is it just an investment?

 

[Shortbread]

Title updated.

https://twitter.com/x/status/1331926563734974465

 

[Deleted member 11852]

When projects go over budget presumably crunch culture will become chop culture.

 

[BRiT]

They'll only make that mistake once...

 

[Shortbread]

Yup, when heads start rolling, no ones safe from job loss.

 

[Tkumpathenurple]

I'm sure they'll whip their devs into shape.

 

[Shortbread]

Update (12:25 GMT, 27/11/2020): A statement published by MiSK has revealed that EGDC will be acquiring a further 17.7% ownership stake in SNK at an undisclosed date, giving it majority (51%) control of the company.