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Nazara Technologies on Wednesday said it will “de-subsidiarise” Nodwin Gaming, as the esports and events arm is raising fresh capital from certain existing shareholders to support its growth in the esports and youth media business.
The capital infusion, which does not involve any sale of shares by the listed gaming company, will dilute the parent firm’s stake in Nodwin Gaming below 50%, resulting in the latter’s reclassification from a subsidiary to an associate company, according to a stock exchange filing.
Nazara Technologies will nonetheless…
