Singapore internet venture accelerator Fatfish Internet Group Limited (FFG) which was listed on the Australian Securities Exchange (ASX) last year, proposed a spin-out of its investments in mobile games studios as a separate independent company called iCandy Interactive Ltd (iCandy) – which will include Appxplore Sdn Bhd as FFG has bought 70% equity interest in Appxlore for $220,080.
iCandy was incorporated as a public company in Australia on 20th March 2015, and the new company is seeking an Initial Public Offer (IPO) on the ASX. Its principal business is investing in prospective mobile interactive entertainment studios in the Asian region to produce quality and fun mobile interactive entertainment for the global mobile games market. Under the proposal, the company will acquire Appxplore Sdn Bhd and Kensington Ventures Pte Ltd.
Appxplore, a Malaysian mobile gaming studio was recently named South East Asia’s most promising mobile game studio. Appxplore published five mobile games to date that have garnered more than 12 million downloads. Among the notable titles include Sporos (Google Play Featured), Lightopus (Apple Appstore Featured and Most Innovative Mobile Game) and Alien Hive (over USD100,000 in gross revenue). Moreover, Appxplore’s mobile games have been featured frequently as recommended apps by the Appstore and Google Play.
CEO of Fatfish Internet Group Limited, Lau Kin-Wai said, “There was hardly any listed games developers on the ASX, vis-à-vis the exchanges in the US and Hong Kong and therefore presents an opportunity for Australian investors to get exposure to the fast growing sector.”
Equipped with a repertoire of successes, a substantial financial injection and a team of dynamic creative individuals, iCandy is set forth to offer the public a worthwhile investment.
CEO of Fatfish Internet Group Lau Kin-Wai, image source: LinkedIn