Video game maker Tinybuild debuts in record £340m Aim listing
Video game maker Tinybuild has become the largest ever US company to list on Aim after its shares debuted on London’s junior index this morning.
The Seattle-based company, which owns a portfolio of more than 40 PC game titles, secured a market capitalisation of £340m following its float this morning.
This marks the largest ever Aim listing for a US company, according to the London Stock Exchange.
Tinybuild raised gross proceeds of £154m from the oversubscribed listing after placing new and existing shares priced at 169p per share.
It said £36.2m of this would go to the company and would be used to help fund its growth strategy and improve its public profile.
“Since establishing Tinybuild eight years ago, we have gone on to create one of the most exciting players in our industry, with a quality portfolio of games enjoyed worldwide,” said chief executive Alex Nichiporchik.
“Our focus on partnering with developers worldwide to ensure the creation of long-lasting IP which can be developed into multi-game franchises has been integral to our success to date.”
Tinybuild, whose titles include Hello Neighbour, Totally Reliable and Startup Panic, buys the intellectual property to video games and partners with developers to build franchises around the brand.
Its current games pipeline includes 23 titles scheduled for release in 2021 or 2022.