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May 28, 2017

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Chinese video-game play boosts Ubisoft's shares by 6.38 percent

PARIS--Shares in French video games software company Ubisoft jumped by 6.38 percent on the secondary SBF market on Wednesday, boosted by a decision by China to open its market to foreign game consoles.

The decision opens up huge potential for games software companies such as Ubisoft, as well as for makers of the hardware.

The overall SBF market was flat in initial trading, but the price of shares in Ubisoft jumped to 10.20 euros.

French video-game companies are successful in world markets, and Ubisoft is one of the top French brand names in this sector.

The Chinese video-game sector is dominated by on-line operators. Sales by the sector jumped by 38.0 percent in 2013 to 83.2 billion yuan (10 billion euros, US$13.6 billion), experts in the sector estimate.

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