Green Man Gaming delays float due to 'horrendous' equity markets
Float was originally due in September
The latest company due to float on the UK stock exchange has delayed its plans, Gamesindustry.biz can reveal.
Digital retailer Green Man Gaming announced its plan for a £100 million flotation in September. The float was due to take place on September 28th, but was delayed until mid-October with reports suggesting the expected valuation had fallen to £70 million.
Now, however, the London-based firm says that although it still plans to pursue its flotation, its timings have changed as "the equity markets have been horrendous in the past few weeks - with small cap growth stocks being hit particularly hard."
The retailer told us that the new timing of the float will depend on market conditions, and that they'll update us in due course.
Green Man Gaming was set to be the latest in a number of UK video game flotations, including recent floats for Team17, Codemasters and Sumo Digital.
Other public UK games companies include the retailer GAME, the developer Frontier and the development services provider Keywords.