LONDON (Alliance News) - GameAccount Network PLC Wednesday raised GBP22.2 million through an institutional placing of its shares ahead of its listing on AIM next Monday.
The gaming software and online-gaming content developer, whose customers include Paddy Power PLC and William Hill PLC, will trade under the ticker GAME.
Upon admission, 55.4 million total shares will be in issue at a placing price of 135 pence per share, giving the company a market capitalisation of around GBP75 million. GameAccount said 63% of the issued share capital will be subject to a 12 month lock in.
?Strong international investor interest contributing to an oversubscribed offering highlights the significant opportunity for GameAccount Network in a rapidly growing regulated Internet gaming sector," Chief Executive Officer Dermot Smurfit said in a statement. "We will continue to strengthen our business in Europe and our successful placing enables us to rapidly expand our US business.?
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
Copyright © 2013 Alliance News Limited. All Rights Reserved.
