1st Jun 2018 10:22
LONDON (Alliance News) - Shares in video game company Codemasters Group Holdings PLC began trading on the London Stock Exchange's AIM market on Friday after raising GBP15 million for the company in its float.
Shares were trading up 4.0% at 257.50p on Friday, compared to the initial public offering price of 200p.
Chief Executive Frank Sagnier said: "Joining AIM will enable the company to consolidate our leadership and expand our reach in the racing category. It will allow us to attract and retain employees, further engage consumers with high quality games and services, and consider potential strategic acquisitions.
"I would like to thank our talented and passionate employees for their dedication and Reliance Big Entertainment for their continued support. We welcome our new shareholders and look forward to many years of continued growth."
On Tuesday, Codemasters said it had placed 7.5 million new shares and 85 million existing shares at 200p each. This raised the GBP15 million for the firm as well as GBP170 million for selling shareholders, giving it a market capitalisation of around GBP280 million.
Related Shares:
CDM.L