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Published on 6/06/2018 10:59:28 AM | Source: Dion Global Solutions Ltd.

Reliance Group`s gaming firm Codemasters lists on LSE`s AIM platform

Posted in IPO More News| #IPO #Anil Ambani

Anil Ambani-led Reliance Group announced the listing of its gaming firm Codemasters on the London Stock Exchange's AIM platform after raising Rs 1,700 crore via IPO, reported PTI. The shares were currently trading at 260 pence, which is 30 per cent premium to the initial public offering (IPO) of 200 pence, Reliance Group said in a statement.

Codemasters' 185 million pound (about Rs 1,700 crore) IPO comprised sale of fresh shares worth 15 million pound, besides, sale of shares to the tune of 170 million pound by Reliance Group and other management stakeholders. The public issue was significantly oversubscribed and attracted bids from leading institutional investors in the UK and Europe. Reliance Group has sold its 60 per cent stake Codemasters through IPO and now hold 29 per cent in the gaming company.

The Group has received net proceeds worth Rs 1,400 crore from the public issue. At the current price, the remaining 29 per cent stake in Codemasters is worth Rs 1,000 crore. "Reliance Group announced the successful listing of its leading edge developer and publisher of games, Codemasters Ltd, through admission of its shares to trading on the AIM market of the London Stock Exchange," the Group said. AIM is a sub-market of LSE and allows smaller and less-viable companies to float shares with a more flexible regulatory system than is applicable to the main market.

"I am delighted with the successful outcome of the Codemasters offering in the international markets," Reliance Capital Group Executive Director Anmol Ambani said. Reliance Group said Codemasters' offering is a major step forward in the group strategy of unlocking value from media and entertainment investment, disposing of non-core investment, bringing down Reliance Capital's overall exposure to Reliance Entertainment and deleveraging the financial services firm's balance sheet. With a total assets of over Rs 3 lakh crore, Reliance Group is a leading business house and has a presence across financial services, telecom, energy, power, infrastructure and media and entertainment sectors.