David Beckham’s Guild Esports has raised $25.73 million and plans to make its debut on the London Stock Exchange on Friday, making the former England soccer captain’s esports enterprise the first to go public in Britain according to Reuters.
The company said its oversubscribed offering of 250 million shares was priced at 8 pence per ordinary share. The former soccer star will hold a 4.78 per cent stake in the company following the initial public offering, making him the fourth-largest shareholder, according to a prospectus that has been approved by the UK Listing Authority.
Other investors in Guild include Toro Consulting, the Blue Star Capital Plc, and Schroder Investment Management Ltd.
The esports enterprise, which posted a net loss of 1.2 million pounds in the 10 months ended on 30 June, plans to use the proceeds from the share to recruit new players and invest in its brand. Zeus Capital Limited and Mirabaud Securities Limited are the joint brokers on the offering.