Gfinity’s IPO debut raises £3.5m

UK eSports firm Gfinity has debuted on London Stock Exchange’s AIM today, raising 3.5m.

Gfinity arrived on the alternative investments marketing this morning at 17p per share – shares are already trading at a higher rate two hours later.

The placing gives the company a market cap of 13.2m.

Gfinity is using the cash to fund an aggressive eSports drive in the UK, including the opening of a dedicated pro-gaming arena in the UK and broadly growing its user base.

The company was founded in September 2012 and has run a number of eSports tournaments and reporting through gfinity.net. Its most recent was G3, pictured above.

Neville Upton, Co-founder and CEO of Gfinity, said: We are delighted to be joining AIM and reaching another significant milestone for the Company. The listing will not only enhance our credibility and profile but enable us to capitalise on the growth in eSports.

As the first UK eSports Company to list on AIM, Gfinity is well placed to take advantage of the rapidly increasing demand for eSports.

We would like to thank our new investors and all those who expressed an interest, and look forward to updating them on our progress as we continue to grow.”