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OpCapita-backed Game eyes £400m from London IPO

20 May 2014

game-padOpCapita-backed computer game chain Game has filed to raise £400m by floating on the London Stock Exchange.

The listing will see 35 per cent of the company put up for sale, with Game management being allocated a four per cent stake in the business after the IPO.

OpCapita helped Game out of administration in 2012 by bringing in hedge fund Elliott Advisors to invest £50m in the business for a 99 per cent stake.

The private equity house, which advised Elliott on the deal, owns the remaining one per cent and is entitled to draw interest and monitoring fees from the company.

Game’s operating profit dropped from about £110m to £22.6m in 2013, although turnover rose by about 22 per cent to £815m.

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