Another UK games float: now Keywords hits London AIM

UK games services firm Keywords Studios starts trading on London AIM today.

On admission to the London Stock Exchange the market cap of the business will be £49.2m.

This follows a successful conditional Placing, at a placing price of 123p, which raised estimated gross proceeds of £28m, including £10m receivable by the firm.

It’s one of two UK games businesses to float this week – Keywords starts trading today, then on Monday Frontier Developments will go live on AIM too.

Andrew Day, CEO of Keywords Studios, said: “We saw strong interest from a series of blue chip investors and it is testament to the growth story of the Company that we have succeeded in our ambitions to become a listed company.

“Keywords Studios serves a global customer base of video games producers, yet the games service provider industry remains fragmented. Our IPO marks the next stage in the Company’s evolution as we look to take a leading role in the industry’s consolidation and to extend our existing offering in an expanding market.”