The developer of “Chronicles of Chaos” Nexters sold the Russian business for 500 rubles
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Video game developer Nexters sold his business in Russia for 500 rubles, follows from documentswhich the company has submitted to the US Securities and Exchange Commission (SEC).
“On July 12, 2022, the board of directors of the company, as part of a risk reduction strategy, decided to sell 100% of the shares in the authorized capital of subsidiaries,” the text of the document says.
The company sold shares in Nexters Studio for 200 rubles, Nexters Online, Lightmap, as well as a 70% stake in the authorized capital of Gamepositive for 100 rubles. for each. The company estimates the loss from the sale at $2.17 million. However, about $7.7 million was kept in the accounts of these firms, so the total loss of Nexters was $9.87 million.
Nexters is developing mobile games, some of its most popular projects are Hero Wars, Throne Rush and Chibi Island: Island Farm. The head office of the company is located in Cyprus.
July 12 Nexters board of directors decided to transfer its Russian subsidiaries to be managed by local management. After the transfer of business, the company will start operating in Russia directly, while the head office located in Cyprus will no longer receive revenue from the activities of Russian platforms. The company also decided to relocate most of its employees from Ukraine, Russia and Belarus.
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