PlayUp Global CEO Daniel Simic Announce Company Going Public
PlayUp Global is going public on the London Stock Exchange and operating as a publicly listed company. As CEO of PlayUp, Daniel Simic says that this will allow the company to grow and accelerate its growth globally. The London Stock Exchange is one of the world’s most prestigious and highly regulated exchanges. Hence, as PlayUp becomes public, it will no longer be subject to secondary listing rules, which would have restricted its ability to do business in other countries globally.
The company will be listed under the trading symbol “PTU,” and the exchange is currently determining the country’s listing date. It expects to announce its stock price, trade date, and repurchase plan by June. PlayUp’s website showed it had raised over $115 million from institutional investors. The company also did not disclose how many shares have been issued as dilution to existing shareholders. Nonetheless, it is expected that approximately 10% of the total outstanding shares will be available for trading following the IPO.
— New Jersey Devils (@NJDevils) October 28, 2022
According to CEO Daniel Simic, this is the most significant round of growth funding for the company to date, and it will enable PlayUp to expand globally quickly. This is an excellent opportunity for existing and new investors to get involved. This will enhance PlayUp’s position as a global esports and gaming technology leader. The company wants to use this round of funding to expand globally, improve its marketing and business development efforts, and accelerate product development for its community platform.
The company has done an excellent job in the esports community, and it will be interesting to see how it will fare as a public company. The company is currently valued at $300 million, but once the shares become available for trading, investors may be more willing to buy into it.