23rd May 2018 11:42
LONDON (Alliance News) - Video games developer Team17 Group PLC said on Wednesday it has started trading on London's AIM market, raising GBP107.5 million through an oversubscribed placing.
Team17 placed 27.3 million new shares and 37.8 million existing shares at a price of 165.0 pence per share, giving it a market capitalisation of GBP217 million.
Shares were trading at 215.00 pence on Wednesday, up 30% from the IPO price of 165.0p.
"We are delighted to have received such strong support from investors. Our listing on AIM represents a major endorsement of both our business and our people and we believe that our quoted status provides an ideal platform from which to accelerate our growth ambitions," said Chief Executive Officer Debbie Bestwick.
Team17's portfolio of video games includes the 20-year-old Worms franchise and The Escapists.
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