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[IbizaPocholo]

Devolver Digital valued at $950m as it floats on London Stock Exchange

Devolver Digital has begun trading on AIM, a sub-market London Stock Exchange, in a floatation that values the indie pu…

www.gamesindustry.biz

Devolver Digital has begun trading on AIM, a sub-market London Stock Exchange, in a floatation that values the indie publisher at close to $1 billion.

The company's stock went live at 8am this morning. Devolver's raised $261 million (£190 million) around its admission to AIM, valuing the company at $950 million (£694.6 million) -- in line with initial reports of the publisher's IPO plans earlier this year.

This makes it the largest ever US-based company by market capitalisation to be admitted to the London Stock Exchange, and the second largest company ever to trade on AIM.

According to Fieldfisher, the European law firm that advised Devolver, the publisher has received a "significant strategy investment from a key industry player," plus support from US institutional investors.

GamesIndustry.biz has also learned that Sony Interactive Entertainment will be making a 5% investment in the company.

The floatation provides Devolver Digital with $50 million in gross proceeds that will be put towards the company's expansion plans. It also included a secondary cash placing of $211 million for management and existing investors, including NetEase, which retains an investment in the company.

"An IPO is the right choice for us to ensure our continued growth and support even more wonderful games," siad CEO Douglas Morin. "Most importantly, it will allow us to retain our culture.

"Being a public company gives liquidity to our amazing team, all of whom are shareholders. It also gives us access to capital markets to continue investing in our growth strategy and talent."

 

[Allforce]

I think it's dope these guys never got bought out, they've put out some amazing shit remarkably often.

But it can't last long I'm sure.

 

[Knightime_X]

Perfect fit for MS

 

[SaucyJack]

Perfect fit for MS

Devolver is now a publicly-traded company, and Sony has bought a stake

Devolver Digital became a publicly-traded company today, floating across the pond here in the UK on the London Stock Ex…

www.eurogamer.net

 

[Kagey K]

Devolver is now a publicly-traded company, and Sony has bought a stake

Devolver Digital became a publicly-traded company today, floating across the pond here in the UK on the London Stock Ex…

www.eurogamer.net

Sony gonna get 5% of Devolvers gamepass money.

 

[Knightime_X]

Devolver is now a publicly-traded company, and Sony has bought a stake

Devolver Digital became a publicly-traded company today, floating across the pond here in the UK on the London Stock Ex…

www.eurogamer.net

What is 5% going to do?

 

[Kagey K]

What is 5% going to do?

Pay for thier next E3 video so we can see where this new story is going.

 

[BadBurger]

They do have a pretty large and quality library. Makes sense.

 

[lh032]

What is 5% going to do?

timed exclusivity period extended by 5%

 

[EDMIX]

I think it's dope these guys never got bought out, they've put out some amazing shit remarkably often.

But it can't last long I'm sure.

piff you just saying this cause its Friday, lets see you say that shit on Tuesday Night at 11.59pm and MS just tweeted something cryptic. lol

I feel they are even doing this cause they are looking for that buyout in the first place. At this point with this buying war....anyone can get it. Nothing surprises me anymore.

 

[STARSBarry]

I think it's dope these guys never got bought out, they've put out some amazing shit remarkably often.

But it can't last long I'm sure.

Effectively it ended as soon as they went on the stock market, because now the company is secondary it's all about how much return it can generate for those investors, thats who they answer too now.

 

[Death Atlas]

Effectively it ended as soon as they went on the stock market, because now the company is secondary it's all about how much return it can generate for those investors, thats who they answer too now.

So you're telling me that Hotline Miami 3 might actually happen now? Could this be the start of the great Investor Redemption Arc?

 

[Maiden Voyage]

Seems a bit much. I will be interested to see how long it maintains at this value.

 

[Starlight Lotice]

Trading 212 are onto this it seems but Interactive Brokers don't have it up yet.

Interested in buying this myself. Genuine Investors tend to want the company to grow and do well mostly.

They seem to have a great record of doing this and the top brass have skin in the game too.

Funny they went onto the AIM market and not Main Market, means they are not looked into as strictly as the standard LSE. Also means the volatility of the stock will swing wildly...could be a good way to average into the Company and hold for 5+ years!

 

[Oddvintagechap]

coming back here just to point out, I think its funny Sony keep investing under 10% everywhere.

It did them good with Spotify. And they probably regret not doing it with Epic.