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Mercia Asset rises as company gains 33% stake in VR game developer

Tue, 29th Mar 2022 10:20

(Alliance News) - Mercia Asset Management PLC said on Tuesday it completed a GBP20.1 million third-party investment round into nDreams Ltd.

The Warwickshire, England-based asset manager explained that, following this investment round, it now holds a 33% stake in nDreams which it values at GBP25.8 million.

Mercia added that this represented a GBP8.1 million increase from its carrying value at September 30. nDreams is a developer and publisher of virtual reality games.

The third-party investment came from Aonic AB, a Stockholm-based video game investor.

Shares in Mercia were up 7.1% at 33.75 pence on Tuesday mid-morning in London.

By Heather Rydings; heatherrydings@alliancenews.com

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