DoubleU Games Seeks New Financial Advisor for DoubleDown IPO

DoubleU Games is actively seeking a fresh financial advisor to manage the initial public offering (IPO) for their DoubleDown subsidiary.

The South Korean social gaming company DoubleU Games has made the decision to sever ties with their current financial advisor, who was responsible for guiding their DoubleDown Interactive subsidiary through its public debut on the Nasdaq exchange. They are currently searching for a new representative to continue the listing process.

DoubleU Games is on the hunt for a new underwriter to oversee the IPO for DoubleDown. DoubleDown revealed last June that they intended to raise approximately $100 million through an IPO. They planned to utilize the funds to support strategic acquisitions and to repay financial backers.

In July, DoubleU announced that the effects of the novel coronavirus (Covid-19) pandemic meant they would be postponing their listing plans. They believed that the economic uncertainty brought about by the pandemic had resulted in a decrease in investor interest.

However, they subsequently revived their plans to spin off the DoubleDown business and move forward with the IPO.

DoubleU Games stated today that the public listing of Double Down Interactive is a top priority for the company. They believe that minimizing delays in the completion process by appointing an underwriter is the most advantageous decision for the company.