Play Magnus, a company that runs a chess mobile app and partially owned by Norwegian professional chess player Magnus Carlsen is set to IPO on Merkur Market in October at a valuation of NOK 800m. This is a significant increase from March this year when the company last raised money at a valuation of NOK 550m. Play Magnus has doubled its revenues in the LTM and reached sales of NOK 66m, implying an EV / Sales of 8.3x. Andreas Thome is the current CEO. The brokerages ABG Sundal Collier and Sparebank 1 Markets are advisers to Play Magnus in connection with the listing. The law firm Simonsen Vogt Wiig is hired as legal advisors.
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