Online game supplier Games Global, which announced the launch of an initial public offering (IPO) earlier this month, is now reporting it will delay the IPO, citing the supplier’s “continuous positive performance” as reason to hold steady for now.
The company indicated the decision is in the “best interests” of stakeholders, and that they will continue to monitor the situation for a potential future offering.
“With a strong balance sheet, healthy margins and meaningful growth, an IPO at this point in time was an accelerator, not an absolute necessity, for our business strategy,” said Games Global CEO Walter Bugno, according to iGaming Business.
“Our team remains committed to delivering the most innovative games on the market. We will continue to monitor the capital markets going forward and make the appropriate reconsiderations as to an IPO in the future.”
The original plan was that 14.5 million ordinary shares would be made available. Of that figure, 6 million ordinary shares from Games Global were to be sold. The other 8.5 million would be made up of existing shareholders. The company applied to list shares on the New York Stock Exchange (NYSE) under the GGL symbol. The price for the IPO was set at between $16 (£12.74/€14.89) and $19 a share.
