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Blue Star Capital

  • BY: Andrew Hore |
  • POSTED: 03/11/2014 |

Investment company Blue Star Capital has a small interest in mobile gaming firm Nektan which joined AIM today.

Nektan ended the day at 236p a share, which is the same as the placing price a which Nektan raised 3.6m.

Blue Star owns 2.15% of DTL which has a subsidiary called Disruptive Tech Nektan Holdings that owns 12.95% of Nektan plus additional options or convertibles.

This means that the current Blue Star stake in Nektan is valued at 139,000.

However, the Blue Star share price fell by 0.13p to 0.45p, which values the company at 2.12m. Blue Star recently raised 225,000 at 0.55p a share.

Gibraltar-based Nektan is loss-making and is currently dependent on a limited number of customers. Two customers generated 73% of 2013-14 revenues of 1.87m. Nektan plans to break into the US market, initially via a joint venture.

Blue Star has other stakes in gaming business intends to invest in others with an ultimate strategy of building up its own business in this area.

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