Synopsis
As part of this capital raise, Nazara’s stake in Nodwin will fall below 50%, officially changing its classification from a subsidiary to an associate company.
ETtechNazara Technologies said on Wednesday it will de-subsidiarise its esports arm Nodwin Gaming, as the latter is raising fresh capital from certain existing shareholders to support its growth in the esports and youth media business.
The capital infusion, which does not involve any sale of shares by Nazara, will dilute its stake in Nodwin below 50%, resulting in the reclassification of Nodwin from a subsidiary to an associate company. Despite the move, Nazara will remain Nodwin’s single largest shareholder
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