Worms publisher Team17 targets $144m in gross proceeds from IPO

UK indie games label Team17 has nailed down details of its forthcoming IPO.

The firm expects a market cap of $290m, with gross proceeds coming in at $144.1m. That's based on a $2.21 share price with 27,325,482 new shares on top of the 37,849,200 existing shares.

That $290m figure is actually higher than the $284m IPO the firm was originally rumoured to be targeting.

Shares breakdown

CEO Debbie Bestwick is retaining 22.2. per cent of the company, while 2016 investors Lloyds Banking Group own a 16.6 per cent stake.

The Worms publisher is floating on the AIM market in the London Stock Exchange on Wednesday, May 23rd.

Our sister-site PCGamesInsider.biz has the full story.

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