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OpCapita-backed Game raises £121m from London listing

9 Jun 2014

console game gaming computerOpCapita-backed computer game chain Game has raised £121m by listing on the London Stock Exchange two years after collapsing into administration.

The share sale saw Game, now known as Game Digital, valued at about £340m, just under the £400m it was hoping as detailed in pre-listing filings.

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, owned 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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