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ME2ON subsidiary ME2ZEN submits pre-review request to KOSDAQ in Korea

2019-07-26

<2019-07-26> ME2ON (201490, Representative director Son Chang Wook) announced on the 26th that its subsidiary ME2ZEN submitted a preliminary examination request to the KOSDAQ market headquarters of the Korean Exchange. The IPO process will be carried out according to the underwriter Mirae Asset Daewoo. The listing time is planned for the end of the year.

 

ME2ZEN is a Hong Kong game development company that provides Mobile Social Casino and Casual Card Game services for global markets. In November 2017, 50.1% equity was acquired by ME2ON and ME2ZEN was merged as its subsidiary. ME2ZEN released Classic Vegas Casinoand DoubleHit Casinoin 2012 and Solitairein 2015. The companys products are diverse. Based on years of accumulated experience, ME2ZEN has a competitive advantage in successfully developing and operating games.

 

The company ensures stable sales revenue and profits primarily through Slots games in the Social Casino game market and Solitaire games in the Casual game market. The newly released Solitaire Tripeaks Journeyhas reached 4 million downloads within nine months from its official release. It has grown rapidly in the North American and Asian markets, diversifying ME2ZENs revenue.

 

Last year, ME2ZEN had a turnover of 566,021,065 HKD and an operating profit of 231,530,292 HKD. The product distribution is 76% in North America, 10% in Asia, and 11% in Europe, with nearly 10 million monthly active users (MAU) worldwide in the first quarter of 2019.

 

ME2ZEN Chief Financial Officer Sung Jon Won states that, “With the improvements to the listing requirements for foreign companies, our company has invested a lot of time in pre-communication and completing written reviews as required. It is planned that ME2ZEN will be listed on the Korean KOSDAQ market by the end of the year. The company can ensure future growth momentum through listing and generate synergy with its largest shareholder (also the parent company) ME2ON.”