Ice Code Games to Acquire AMIHAN, Becoming Europe's First Public RWA Firm
ICG signs binding deal to buy 100% of AMIHAN OÜ, pivoting into real-world asset tokenization. AMIHAN holders will own 60% of the combined company.
If you've been watching the real-world asset (RWA) tokenization space, this one's worth your attention. Ice Code Games (ICG) has signed a binding Purchase and Sale of Private Shares Agreement (PSPA) to acquire 100% of AMIHAN OÜ, a move that would transform the gaming company into what it's calling Europe's first publicly listed RWA firm. That's a hard pivot — and a bold one.
The deal's structure tells you who holds the cards: AMIHAN shareholders will control 60% of ICG after the transaction closes. That's not a merger of equals — that's a reverse-influence acquisition. AMIHAN's backers are essentially getting a public vehicle handed to them, and ICG investors need to understand what that means for dilution and control going forward.
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RWA tokenization is one of the hottest narratives in crypto and traditional finance right now. The idea is straightforward — put real-world assets like real estate, commodities, or credit instruments on-chain, making them tradeable and accessible to a broader pool of investors. By planting a flag as Europe's first public company explicitly built around this model, ICG and AMIHAN are betting they can capture early-mover attention from both institutional and retail capital flows chasing this trend.
The platform ICG and AMIHAN plan to build targets both real-asset infrastructure and tokenization capabilities, meaning this isn't just a branding play — there's an operational buildout implied. Whether that execution follows through is the real question every trader should be asking before sizing into a position. Public RWA companies are rare globally, so the category itself is still being defined.
This is the kind of structural corporate transformation that moves charts in the short term and either validates or craters over the next 12-18 months. Watch the post-deal cap table closely. Continue reading at GlobalNewswire.
