Winking Studios Limited completes a secondary fundraising of US$20 million

July 2024 — Winking Studios has successfully raised US$20 million to fund its business strategy and future plans, such as strategic acquisitions, alliances and joint ventures as well as secondary or dual listings, to grow the group’s market share and broaden its customer base globally.

Winking Studios Limited is an art outsourcing and game development studio with over 25 years of experience in providing complete end-to-end art outsourcing and game development services across various platforms, such as for consoles and PCs as well as online and handheld content for the video games industry. There are three primary business segments. The art outsourcing segment creates and develops digital art assets as part of their provision of art outsourcing services. The group can provide a wide gamut of design services, including 2D concept art, 3D modeling, 2D animation, 3D animation and visual effects, which includes environment and character design. The game development segment provides game development services, including programming, development, design and script writing. The global publishing and other services segment is where they release game products developed by themselves and third-party game developers on global gaming platforms, such as PlayStation, Switch and Steam. It is also where they sell their in-house developed video games and peripheral gaming products. The group’s principal places of business are in Taiwan, China and Malaysia, where they house their studios, while their operations are supported by their headquarters in Singapore.

Our role in the transaction

Oaklins’ team in Singapore acted as the sponsor and placement agent for the placement of 108,000,000 shares at S$0.25 per share.