David Beckham-owned esports group completes IPO
UK-based Guild Esports is set to float on London Stock Exchange next month
The esports organisation co-founded by former England captain David Beckham has completed its IPO on the London Stock Exchange, with a market capitalisation of £41.2m
The listing comes after the group raised $20m ahead of its IPO on the London Stock Exchange.
Guild Esports indicated its intention to launch an IPO earlier this month, with the raised capital to be used to invest in new players and marketing efforts.
The organisation noted that its offering of 250 million shares was oversubscribed, with shares priced at 8p.
The group is set to debut on the London Stock exchange on 2 October and would be the first esports-centric business to do so.
Carleton Curtis, Guild executive chair, said the group aims to become one the world’s top 10 esports franchises within three years, thanks to the IPO and brand appeal of former Manchester United midfielder Beckham.
Guild currently competes in both Rocket League and FIFA competitions and is looking to expand into Counter-Strike: Global Offensive and Fortnite.