After registering to list its ordinary shares on the New York Stock Exchange last month, casino games provider Games Global is looking to raise at least $232 million from its initial public offering.
The company has confirmed that its IPO consists of 14.5 million ordinary shares, including 6 million from Games Global and 8.5 million from the company’s shareholder Zinnia Limited. Games Global will not get funds from shares sold by its shareholders.
Trading under the ticker symbol “GGL,” the shares are expected to hit the market between $16 and $19 each, raising from $232 million to $275.5 million for the company. Between $96 million and $114 million would be invested back into the business, valuing Games Global at more than $2 billion.
Underwriters have 30 days to buy up to 2,175,000 additional ordinary shares from existing shareholders, priced the same as the IPO, minus underwriting discounts and commissions.
As Games Global intends to expand into the United States by the end of 2024, money raised will support its launch and go toward research and development, sales and marketing and technical infrastructure.
Founded in 2021, Games Global Limited is an online casino game developer based on the Isle of Man, led by former IGT and Lottomatica CEO Walter Bugno. Games Global offers more than 1,300 games from more than 50 in-house and studio partners.
