Frontier to float

Frontier to float
Michael French

By Michael French

July 10th 2013 at 9:00AM

UK developer founded by David Braben will begin trading on London AIM on Monday - market cap of £40m

David Braben's Frontier Developments will go public next week on the London  alternative investments market.

The IPO will create a market cap of £39.4m.

Frontier recently finished a pre-float fundraising round that raised £2.8m.  It has already raised £4m through a shares placing with Canaccord Genuity. The firm has £7.2m in the bank and credit for a further £3m.

“We are very excited to be listing our Company at a time of such strong momentum in the business and the sector," said Braben.

"This placing of Frontier shares, combined with our recent oversubscribed funding round, is a strong endorsement both of the opportunities we have identified, and our team’s ability to deliver on the next round of enhancements to our business to make the most of those opportunities.  

“It gives us the necessary financial impetus to continue operating at the forefront of the continually evolving and expanding global games market.”