4th Nov 2021 15:57
Devolver Digital Inc - Delaware, US-based video game publisher - Commences trading on London's AIM with market capitalisation of GBP694.3 million and 442.3 million shares issued overall.
In the IPO, Devolver Digital raised GBP190.9 million through an oversubscribed placing at a price of 157 pence peach.
Zeus Capital acts as nominated adviser and bookrunner to the company. Admission is expected to provide Devolver with access to capital on ongoing basis to fund its organic growth strategy, as well as fund acquisitions.
"An IPO is the right choice for us to ensure our continued growth and support even more wonderful games. Most importantly it will allow us to retain our culture. Being a public company gives liquidity to our amazing team, all of whom are shareholders. It also gives us access to capital markets to continue investing in organic growth and talent," said Chief Executive Officer Douglas Morin.
Current stock price: 185.00 pence
Year-to-date change: up 18% from IPO price
By Dayo Laniyan; [email protected]
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