The AIM-listed video games developer said in a statement on May 29 that it was aiming to raise £15mln through its initial public offering
Codemasters Group Holdings PLC (LON:CDM) has seen a good start to its first day of trading on AIM following a placing earlier this week.
The AIM-listed video games developer said in a statement on May 29 that it was aiming to raise £15mln through its initial public offering (IPO), with the placing consisting of 7.5mln new shares and 85mln existing shares at a price of 200p each.
READ: Codemasters to list on AIM June 1
Based on the placing price, the company is expected to have a market cap of around £280mln on admission.
Frank Sagnier, Codemasters chief executive, said: "Joining AIM will enable the Company to consolidate our leadership and expand our reach in the racing category.
It will allow us to attract and retain employees, further engage consumers with high quality games and services, and consider potential strategic acquisitions.”
In early morning trading Friday, Codemasters shares were up on the placing price 26.2% at 252.5p.
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