Firm raises £3.5 million via the placing of some 20 million shares

Gfinity becomes first UK esports company to float on London Stock Exchange

Gfinity has floated on the AIM market of the London Stock Exchange this morning.

It has raised £3.5 million via the placing of 20 million new ordinary shares (starting at 17p each). It will have more than 77 million shares in issue with a market cap of around £13.2 million.

Gfinity organises and hosts esports tournaments (with cash prizes) for pro players and teams, and also hosts a website allowing users to compete against one another or view competitors playing games such as Call of Duty: Advanced Warfare, Counter Strike: Global Offensive (CS:GO),FIFA 2015, StarCraft and League of Legends.

The firm – founded in September 2012 – aims to open ‘the UK’s premier esports arena’ in the future.

Neville Upton, co-founder and CEO of Gfinity, said: "We are delighted to be joining AIM and reaching another significant milestone for the company. The listing will not only enhance our credibility and profile but enable us to capitalise on the growth in eSports.

"As the first UK esports company to list on AIM, Gfinity is well placed to take advantage of the rapidly increasing demand for esports. We would like to thank our new investors and all those who expressed an interest, and look forward to updating them on our progress as we continue to grow."

Gfinity’s G3 event attracted 3,830 ticket paying spectators and achieved 8.7 million online views over one weekend.

On December 11th, Gfinity entered into a two-year sales and marketing contract with Pitch International for Pitch to package and sell sponsorship and broadcasting rights on the company’s behalf. Gfinity also collaborates with popular YouTube content creators KSI and Ali-A, who have over 7.5 million and over five million subscribers respectively.

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