Partner Article

GAME expect £121 million from IPO

Shares in rescued video games retailer GAME will become available today as its hedge fund owners estimate the IPO will raise £121 million.

GAME says shares will be priced at £2 per ordinary share meaning the total market capitalisation of the firm on commencement will be £340 million.

The IPO follows the brand’s rescue and turnaround from administration in 2012 when it was bought by an investment vehicle owned by Elliott Capital Advisors LP, the US hedge fund.

The firm has outlined a performance incentive plan which would give selected selected senior employees no-cost options over ordinary shares. An award scheme for general employees was also announced, along with a plan to reward 20,000 of GAME’s most loyal customers with “virtual loyalty shares” which will track the value of ordinary shares.

Martyn Gibbs, chief executive of GAME Digital plc 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.“

This was posted in Bdaily's Members' News section by Tom Keighley .