Film studio Vraar eyes IPO to build its virtual reality and gaming sectors

The studio owned by the Vraar company filmed the final of the 18th Chopin Competition in VR technology. She will also coordinate the post-production of a feature film about Fryderyk Chopin in VR technology – The Debutant. The company is at the stage of obtaining financing as part of a private subscription of shares and is preparing for its debut on the NewConnect market, which is expected in the second quarter of 2021.

Vraar, which focuses on the market of games and movies in virtual reality (VR) technology, in cooperation with Dom Maklerski Navigator, decided to conduct a private issue of shares. At the same time, immediately after closing the offer, the company plans to start the process of applying for the introduction of shares to trading on the NewConnect market. The Management Board anticipates that the company should be made public no later than in the second quarter of 2022.

“We are a company that is already generating income. Although the Vraar group has been operating in the market for a relatively short period of time, it should be emphasized that it has already generated significant revenues. Based on the implemented projects and signed contracts, we estimate that in the Commercial VR / AR and Gaming VR segments in 2021 we will generate them at the level of PLN 2 million. However, in order to meet the growing interest of customers in the Commercial area and to build our own products, we must expand our team even faster. That is why we decided to seek financing for our development on the WSE” – says Jakub Kosma, CEO of Vraar.

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