Leaf Mobile to join London Stock Exchange
Floatation expected to value firm at around £130 million
Canadian firm Leaf Mobile has announced intent to float on the London Stock Exchange this winter.
The floatation is expected to value the company at approximately £130 million, and the firm expects to raise around CAD $10 million. The funds raised will be used to further scale the business.
Leaf's common shares will continue to trade on the Toronto Stock Exchange, as well as the OTC Market Group's OTCQB Marketplace in the US.
"The mobile games market will gain increasing popularity in the next ten years, with free-to-play games acting as the industry's foremost segment," said Leaf Mobile CEO and founder Darcy Taylor.
"London is a global hub for video gaming, creative industries and technological innovation and a London Stock Exchange listing will help LEAF Mobile to position itself at the forefront of the sector's growth. Moreover, the dual listing will provide us with a springboard to achieve our ambitious growth objectives in Europe and enhance our access to London's deep and advanced capital markets."
Back in February began trading common shares on the Toronto Stock Exchange, and snapped up mobile studio East Side Games in a $125 million deal.