Devolver Digital Shares Rise in Stock Market Debut

Devolver Digital Shares Rise in Stock Market Debut

Shares of Devolver Digital, Inc rose 14% in early trade Thursday as the company started trading on London’s junior AIM, implying a market capitalization of 791.6 million pounds ($1.08 billion).

The U.S. incorporated videogame publisher has raised GBP36.5 million of new money as part of its IPO. In addition, existing shareholders have sold GBP154.4 million worth of shares.

Shares at 0951 GMT were up 22.0 pence at 179 pence.

Devolver, founded in 2008, owns five development studios including two in the U.K., along with videogame publisher Good Shepherd. It operates across the U.K., North America, South America, Europe, Asia-Pacific and Africa and has subsidiaries in the U.K., Netherlands, Croatia, the U.S. and Poland.

Zeus Capital is nominated adviser and sole bookrunner to the company.

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