By Leo Marchandon
(Reuters) -French video game publisher Ubisoft said on Thursday it was postponing the publication of its half-year earnings and requested Euronext suspend trading of its shares and bonds starting Friday.
The suspension will remain in place until the company publishes the delayed results “in the coming days,” Ubisoft said in a statement. A scheduled investor call on Thursday evening was also postponed.
Chief Financial Officer Frederick Duguet said in an internal memo to employees that the suspension was requested “to limit unnecessary speculation and market volatility during this short delay” as the company was “taking extra time to finalize the closing of the semester.” The company declined a Reuters request for additional comments.
Ubisoft said in July it was undertaking a sweeping reorganization into a new operating model built around business units called “Creative Houses,” aimed at streamlining operations.
In March, Ubisoft established a subsidiary, Vantage Studios, to manage the intellectual property of its three leading franchises: “Assassin’s Creed,” “Far Cry,” and “Tom Clancy’s Rainbow Six.”
Chinese tech giant Tencent invested 1.16 billion euros ($1.35 billion) for a 25% stake in the entity, which remains under Ubisoft’s exclusive control and is co-led by Christophe Derennes and Charlie Guillemot, son of Ubisoft CEO Yves Guillemot.
Ubisoft’s Paris-listed shares have fallen 49% year-to-date.
(Reporting by Leo Marchandon in Gdansk; Editing by Aurora Ellis)
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