Canada’s biggest video game developer eyes £130m London listing
Leaf Mobile, which develops games based on shows such as RuPaul’s Drag Race, expects to be valued at £130m following the dual listing on the London Stock Exchange.
The Toronto-listed developer of free-to-play mobile games is raising C$10m (£6m) to help establish a European arm of the business.
It is understood that the chief executive, Darcy Taylor, chose London because of a deep investor interest in the mobile gaming business.
The listing represents the explosion of new gaming sites and apps that have emerged since the lockdown.
Leaf Mobile had over a million downloads of its RuPaul Drag Race game since it launched last month.
On why London, Taylor told Morning Wire: “We are excited to use London as a base for our European operations. It is a chance to discover brilliant companies for M&A expansion and hire a host of amazing talent.”
He continued: “London is a creative industry and video gaming powerhouse, with a worldwide reputation for excellence. By locating here, we can access a wide range of institutional investors both in the UK and Europe.”
A spokesperson for Leaf Mobile told Morning Wire exclusively that the company hopes to list in December this year. However, there is no exact date confirmed.