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Games developer Sumo Digital prices AIM IPO at 100p per share; trading starts Wednesday
Sumo Capital Trading , while a vendor placing raised about £39.7mln for selling shareholders
The group said the proceeds of the offering will be used to cut debt and as additional working capital
Sumo Digital has priced its initial public offering (IPO) at 100p per share, giving the games developer an initial valuation of £145mln when the stock starts trading on London’s junior market, AIM on Wednesday.
The Sheffield-based firm - which makes games such as Forza Motorsport 7 and HITMAN Episode 5 - said the placing of ordinary shares raised about £38.5mln, while a vendor placing raised about £39.7mln for selling shareholders.
One of the largest independent games developers in the UK
The group said the proceeds of the offering will be used to cut debt and as additional working capital.
Sumo Capital Trading
, was founded in 2003 and is one the largest independent games developers in the UK.
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