Guild Esports (AIM:GILD) the online gaming firm which is co-owned by David Beckman has successfully completed its public market flotation on the LSE after raising £20m ($26m).
Investment company, Blue Star Capital, which holds 11.7% of the issued share capital of Guild shared with its investors the company’s intention to float on the LSE last month.
The group previously told potential investors that Guild had benefitted from a rapidly growing fan base after the online gaming market witnessed a surge during the pandemic.
This has included attracting even bigger audiences than at Wimbledon and the US Open.
It highlighted that the online gaming market is projected to grow to 646m viewers by 2023. The growth in viewers has been matched by revenue generated by esports, increasing from $130m in 2012 to an estimated US$1.1bn in 2020. It is projected to reach $1.55bn by 2023.
The initial public offering values Guild, which was only initially launched as a company back in June 2020, at £41.2m ($52.3m), the esports business unveiled to investors this morning.
According to BloombergQuint, Guild, which is the first esports franchise to join the LSE, was trading at 7.5p at 9:44 a.m. in London, having opened up nearly 13% from its 8p issue price.
Shares in GILD opened 13% from its issue price of 8p before dropping to 23.75% to 7.625p.
“Guild's debut on the London stock market is a major step in the Company's development and provides a strong foundation to execute our long-term growth strategy,” said Carleton Curtis, Executive Chairman of Guild Esports commenting on the flotation this morning.
He said, “We are delighted with the strong support from a wide range of institutional and other investors, to build a global fan base and leading esports teams under the Guild brand."
Guild Esports said it intends to engage up to 20 esports players by the end of 2021.
The company said it is also counting on David Beckham to use his global influence and following in order ‘to support the development of the company’s brand and business.’
Zeus Capital and Mirabaud Securities are Guild’s brokers and bookrunners on the IPO.
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