Shares in UK online games firm Gameplay.com Plc had jumped 64% on Monday, the first day of their listing on London’s Alternative Investment Market. The company issued 39.6 million shares at 135 pence but the price closed at 221 pence, valuing the firm at 88m pounds ($142m).
Gameplay was listed as a shell with the pre-agreed purpose of buying online games site Wireplay from British Telecommunications Plc for 5.5m pounds ($8.8m) cash and Interactive Commercial Enterprises Ltd, a mail-order games firm, for 5.1m pounds cash and shares. The company obtains a customer base of 275,000 from ICE and 100,000 registered users from Wireplay.
Gameplay is currently just a front page with a hyperlink to Wireplay.com. But it has partnerships in the wings with The Future Network Plc for games supply, and Open Interactive Ltd, for the development of an interactive games channel on digital TV.
