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Animoca Brands gains new substantial shareholder with 7.7% stake

Hong Kong-based investor Katherine Yip reached this status last month after acquiring a parcel of shares valued at more than $4.14 million.

Animoca mobile games image
The investment coincides with a strong growth period for the games developer

Animoca Brands Corporation Ltd (ASX:AB1) has gained a new substantial shareholder in Hong Kong-based Katherine Yip who has accumulated more than 57.833 million shares representing a 7.7% holding.

Initial substantial shareholder status was reached on January 25, 2019, when she acquired 42.25 million shares valued at more than $4.14 million.

Katherine Yip is founder of Pacific Alliance Group and co-founder and partner of Vina Capital.

READ: Animoca Brands delivers strongest year on record; continues to grow revenues

Her investment coincides with a strong period of growth for the Hong Kong-based, ASX-listed AI, Blockchain and mobile technology developer with a specific focus on games.

Animoca’s total net cash inflow from operating activities for the December 2018 quarter was positive, representing the fourth consecutive cash flow positive quarter.

The company generated an unaudited revenue of $4.59 million during the quarter, representing an increase of 188% on the same period of 2017 and bringing total, unaudited revenue for the year to $14.88 million.

Cash receipts for the three months totalled $6.89 million, up 637% on the same period of 2017 and the company ended the quarter with $10.9 million in cash and cash equivalents.

The continued performance of the core gaming business, led by titles like Crazy Kings and Crazy Defense Heroes, as well as the portfolio of branded games, drove revenue and cash flow during the quarter.

READ: Animoca Brands to expand successful mobile game to Android devices

A series of strategic investments and partnerships in the area of Blockchain games has positioned Animoca to be a global leader in this burgeoning new sector.

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