Devolver Digital eyes GBP694 million market value amid AIM float

(Alliance News) - Video game publisher Devolver Digital Inc on Monday announced plans to list on ...

Alliance News 1 November, 2021 | 10:29AM
Email Form Facebook Twitter LinkedIn RSS

(Alliance News) - Video game publisher Devolver Digital Inc on Monday announced plans to list on London's junior AIM market later this week.

Devolver, which anticipates having a GBP694.3 million market capitalisation, plans to list on Thursday.

The Delaware, US-based company will raise GBP36.5 million, with existing shareholders selling an additional GBP154.3 million. It will give a total offer size of GBP190.9 million. It will price its initial public offering at 157 pence per share.

Initially a digital-only publisher, Devolver was formed in 2008 and principally released its game on PC, via the Steam platform. It has since expanded its operations and owns five video game development studios, two of which are in the UK.

Zeus Capital Ltd is acting as nominated adviser and broker.

A GBP694 million market value will slot Devolver around the top 50 most valuable AIM stocks.

London's junior market already has several listings in the video game space. Among them are Keywords Studios PLC, boasting a GBP2.16 billion market capitalisation. Frontier Developments PLC has a market value of around GBP950 million, Team17 Group PLC of GBP940 million and Tencent Holdings Ltd-backed Sumo Group PLC of GBP829 million.

AIM was formerly home to Codemasters Group Holdings PLC, before it was acquired by Electronic Arts Inc.

By Eric Cunha; ericcunha@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

Email Form Facebook Twitter LinkedIn RSS

Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Frontier Developments PLC 195.00 GBX -0.81 -
Team17 Group PLC 227.00 GBX 2.02 -
Keywords Studios PLC
Electronic Arts Inc 147.80 USD -0.06

About Author

Alliance News

Alliance News provides Morningstar with continuously updating coverage of news affecting listed companies.

© Copyright 2024 Morningstar, Inc. All rights reserved.

Terms of Use        Privacy Policy        Modern Slavery Statement        Cookie Settings        Disclosures