9th Mar 2021 14:06
(Alliance News) - Shares in tinyBuild Inc started trading on the AIM market in London on Tuesday, rising by more than a quarter in its debut.
The Seattle, Washington-based video games publisher and developer offered investors 201.5 million shares at a price of 169 pence each in its initial public offering. The stock was trading at 215p a share in London on Tuesday afternoon, up 27% from the IPO price.
At tinyBuild's IPO price, it has a market capitalisation of GBP340.6 million. The IPO raised GBP154.4 million, of which GBP36.2 million was for the company.
"We were delighted by the level of investor appetite we have experienced during the IPO process and we welcome our new shareholders to tinyBuild. We believe that our AIM listing provides the ideal platform for our growth, whilst helping to increase tinyBuild's profile even further," said Chief Executive Alex Nichiporchik.
tinyBuild has 40 games titles to its credit and a pipeline of 23 more scheduled for release in 2021 and 2022.
By Evelina Grecenko; [email protected]
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