The French studio behind popular episodic title Life is Strange Dontnod is set for an initial public offering.

That's according to the country's Le Figaro newspaper, which reports that the developer has registered with Authorité des Marchés Financiers, the French market regulator with the aim of listing on the Euronext Growth stock exchange.

The desire to IPO comes from wanting to make more games and get a greater share of royalties from co-productions. The firm wants to be able to put enough of its own cash behind projects and not rely on publishers; this means that it will ultimately see more money if games actually take off.

"By financing ourselves a small part of the development, we take a controlled financial risk, but this allows us to generate larger royalties if successful," CEO Oskar Guilber said, via Google Translate.

"We are not abandoning the classic model of full funding by the publisher. We want to achieve a smart balance between the two models."

Dontnod was founded in 2008, with its first title being 2013's Remember Me, published by Capcom. In 2015, it released Life is Strange which sent the independent developer to the big leagues. A second game in that series is in the works, as well as another title being published by Bandai Namco.x