Wed. Dec 8th, 2021

Leaf Cellular has revealed its intention to drift through the London Inventory Alternate (LSE).

The Canadian free-to-play cell video games agency is predicted to be valued at $174 million (£130 million).

Leaf Cellular intends to lift gross proceeds of roughly $8 million forward of the floatation.

The agency started to commerce frequent inventory shares on the Toronto Inventory Alternate (TSX) earlier this yr and can assume a dual-listed construction.

The secondary itemizing is a part of Leaf’s progress technique and the web proceeds of capital raised can be utilized in scaling the enterprise.

Bold targets

Following a profitable float, Leaf plans to ascertain a base of European operations in London to assist its growth.

“The cell video games market will achieve growing recognition within the subsequent ten years, with free-to-play video games appearing because the trade’s foremost phase,” stated Leaf cell CEO Darcy Taylor.

“London is a world hub for video gaming, artistic industries and technological innovation and a London Inventory Alternate itemizing will assist Leaf Cellular to place itself on the forefront of the sector’s progress.

“Furthermore, the twin itemizing will present us with a springboard to attain our formidable progress targets in Europe and improve our entry to London’s deep and superior capital markets.”

Lately, Leaf Cellular reported its Q3 2021 financials indicating progress of 4 per cent to $15 million, throughout its “traditionally sluggish” quarter.

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