Green Man Gaming – the digital games retailer and up-and-coming publisher – is planning its moves with regards to floating on the London Stock Exchange. A valuation is said to be at around £100 million.
Speaking to GI.biz, GMG CEO Paul Sulyok said the move had been on the cards for some time, but that he was glad to be going after the likes of Codemasters and Team 17 – as it meant GMG could learn from the experiences of other British businesses.
“All credit to the vanguards of this,” Sulyok said, “The Debbie Bestwicks, the Andrew Days and the Carl Cavers, who took those first steps into the capital markets and made a success of it. Look at their share prices and the reputations they’ve built up."
With the company growing between 25 to 30 per cent each year since its inception in 2009, Sulyok said he’s confident the growth approach he’s focusing on in the IPO will be a success. Proceeds from going public will be reinvested into the company, with focus on elements such as broadening GMG’s international reach – and more cash going towards the company’s fledgling publishing arm.
“Right now, the publishing division is the smallest part of our business," he said, “But it is also part of the business that I feel very passionately about, and I know a number of the team does, too. Come the IPO, there will be an allocation of primary proceeds that is going to go towards growing the publishing business. Ultimately the games industry, in my view, is in two parts: it is about customers and content. If you can fulfil both, then that’s a huge opportunity.”
There’s no date given for the IPO as of yet, but Sulyok said he’s hopeful it will make the GMG team very happy: “We have a great team of people working in this office,” he explained, “We have made very sure that over the years that people who have joined have a bit of the company. So there will hopefully be a number of people smiling if this goes well. We have an amazing customer base, brilliant business partners and a great team driving things forward.”