Games Global to raise at least $232 million from New York IPO

Online casino games provider Games Global is looking to raise at least $232 million from its initial public offering (IPO) of 14,500,000 ordinary shares.

After unveiling plans for an IPO last month, the company has now confirmed that the offering consists of 6,000,000 ordinary shares offered by Games Global and 8,500,000 ordinary shares to be sold by Games Global’s existing shareholder.

The IPO price is currently expected to be between $16.00 and $19.00 per share, which would raise between $232 million and $275.5 million, valuing the company at more than $2.0 billion.

Games Global will not receive any proceeds from the sale of the shares by the selling shareholder.

The underwriters will have a 30-day option to purchase up to an additional 2,175,000 ordinary shares from the selling shareholder at the IPO price, less underwriting discounts and commissions.

Games Global has applied to list its ordinary shares on the New York Stock Exchange under the symbol GGL.

J.P. Morgan, Jefferies and Macquarie Capital are acting as joint lead book-running managers for the proposed offering, while Barclays and BTIG are acting as book-running managers for the proposed offering.