Embracer to spin off Fellowship Entertainment with listing on Nasdaq Stockholm

The Board of Directors of Embracer (THQQF) Group AB announced the intention to separate the group into two publicly listed companies, through the spin-off of Fellowship Entertainment with a listing on Nasdaq Stockholm planned for calendar year 2027. The main rationale is to further increase management focus to capture the full potential of the high-quality assets in the group and accelerate value creation. Fellowship Entertainment, an IP-led entertainment company built around game development, publishing and a licensing focus, as the stewards of The Lord of the Rings, Tomb Raider and many other great intellectual properties. Embracer, a natural home for proven entrepreneurs, supported by a more efficient structure, with enhanced governance, tighter cost control, and disciplined capital allocation. Starting from Embracer Group’s Q1 FY 2026/27, the company will report through two distinct business segments: Fellowship Entertainment and Embracer. This new structure is designed to enhance transparency and highlight the unique strengths and strategies of each segment, in advance of the spin-off. “This separation is about sharper management focus and clearer accountability, giving each business the structure and leadership to realize more of its full potential. I am truly excited about Fellowship Entertainment’s prospects to organically grow substantially over the coming years. I am equally optimistic about the potential of the deep portfolio and selective M&A opportunities for a more focused Embracer. As Chair and major shareholder, I am strongly committed to support the preparations to drive value in two listed companies over the long-term”, says Lars Wingefors, Chair of the Board of Embracer Group.