Game valued at £340 million as IPO price is set at 200p per share
Game has priced its initial public offering at 200 pence per ordinary share as it prepares to return to the stock market, valuing the business at £340 million.
The flotation is expected to raise proceeds of about £121 million for the video games retailer which has been renamed Game Digital.
Game was acquired by investment firm OpCapita, which was backed by Elliott Advisors, after the retailer fell into administration in 2012. Since then, the business has been restructured to include a streamlined store portfolio of 560 stores across the UK and Spain compared to 874 outlets in 2012.
Martyn Gibbs, chief executive of Game Digital said:"Game Digital is a profitable and cash generative business with a great team, strong supplier partnerships and exciting digital growth opportunities. These fundamentals have enabled us to attract high quality investors who we welcome into our business.
“We are a truly specialist retailer, with a loyal customer base, operating in a growing market. Our supplier partners are producing increasingly advanced gaming content, for which we will continue to develop and facilitate new ways to buy and play. The business is well-placed for the future."
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