CI Games issues new shares

CI Games reported revenue of PLN6.2m in Q3, compared to PLN4.1m the previous year.

I was not expected any growth in revenues as the only reason I own the company is the release of Sniper Ghost Warrior 3 in April next year. So I am actually impressed by them growing revenues without any major titles out.

But the company is issuing 1.1m new shares (7,9% dilution) to be used for the purpose of marketing Sniper Ghost Warrior 3. This explains why the stock is down about 7% today. All information was in Polish so I am relying on google translate here, but my understanding is that the exact details of the issuance will be released tomorrow.

CI Games and Paradox are each about 10% of my portfolio at the moment while the remaining 80% is Frontier Developments.