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Retail

Game Digital drops flotation price

Game Digital drops flotation price

Fri 06 Jun 2014 9:16am GMT / 5:16am EDT / 2:16am PDT
RetailFinancial

"Game Digital is a profitable and cash generative business"

UK retailer GAME stock went on sale at 8am this morning, at the somewhat lower than expected price of 200p per share, which places the company value at 340m.

Previous expectations for the chain had been as high as 400 million.

"Game Digital is a profitable and cash generative business with a great team, strong supplier partnerships and exciting digital growth opportunities," CEO Martyn Gibbs told The Guardian.

"These fundamentals have enabled us to attract high quality investors who we welcome into our business."

60,409,046 shares are on offers to investors, which represents 35.5 per cent of its share capital.

As part of its flotation the company intends to offer 20,000 customers 100 in store credit as a "virtual share."

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