Indie publisher TinyBuild did its initial public offering this morning on the London Stock Exchange.
The label floated on the AIM market with a share price of £2.25 ($3.12), apparently translating to a market cap of £340.6 million ($472.96 million). At the time of writing, the firm's stock costs £2.21 ($3.07), meaning its market cap is in the region of £334.5 million ($464.49 million).
TinyBuild went public with the help of Zeus Capital.
"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. 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 boss Alex Nichiporchik (pictured) said.
"We were delighted by the level of investor appetite we have experienced during the IPO process and we welcome our new shareholders to tinyBuild. We believe that our AIM listing provides the ideal platform for our growth, whilst helping to increase TinyBuild's profile even further."
Zeus corporate finance director Richard Darlington added: “This listing further demonstrates our deep expertise in the sector, having advised on five deals valued over $750m in the last eighteen months alone. Despite the issues arising from the pandemic, participants in the sector have continued to innovate to work virtually across the globe whilst further benefitting from an accelerated permanent transition to digital distribution.
“With the video gaming industry expected to reach a valuation of more than $200bn by 2023, we are seeing exciting new business models develop with huge growth opportunities across this global market.”
TinyBuild bought the developer of the Hello Neighbor franchise, Dynamic Pixels, in July of last year.
The firm is the latest in a now-reasonably-long line of games publishers who have done their IPO in London. Back in 2013, both Elite maker Frontier Developments and services giant Keywords Studios went public, before work-for-hire specialist Sumo Digital floated in 2017.
That's just on the UK side of things. In the States, engine maker Unity conducted its IPO in September 2020, while games platform Roblox is set to float by a direct listing this week.