MindArk, parent of Entropia Universe, has announced it is planning an initial public offering, which is likely to include an offering of newly issued registered shares as well as existing shares. The company intends to use the proceeds from the newly issued shares to implement its growth strategy -- planning to expand its market position and pursue acquisition opportunities globally. The company has tapped Credit Suisse to help it plan for the IPO and suss out strategy.

Jan Welter, CEO of MindArk, said: "As a publicly traded company MindArk will be able to acquire intellectual property and make strategic acquisitions that will enhance and expand Entropia Universe as the leading Virtual platform for Entertainment, Commerce, Education and Avatar Development. The IPO will also give us an opportunity to substantially expand our development team and to further develop our many current virtual systems and user tools employed by users to engage in commerce, as well as to develop new ones."