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Leaf Mobile prepares to go public in London | Pocket Gamer.biz

Leaf Mobile has announced its intention to go on the London Stock Exchange (LSE).

The Canadian free mobile game company is valued at $ 174 million (£ 130 million).

Leaf Mobile aims to generate approximately $ 8 million in gross proceeds prior to going public.

The company began trading common stocks on the Toronto Stock Exchange (TSX) earlier this year and will adopt a dual exchange structure.

The secondary listing is part of Leaf’s growth strategy and the net proceeds of the raised capital will be used to scale the business.

Ambitious goals

After a successful IPO, Leaf plans to establish a European office in London to support its expansion.

“The mobile game market will grow in popularity over the next decade, with free-to-play games being the most important segment of the industry,” said Darcy Taylor, CEO of Leaf Mobile.

“London is a global hub for video games, creative industries and technological innovation and a listing on the London Stock Exchange will help Leaf Mobile position itself at the forefront of growth in the sector.

“In addition, the double listing provides us with a stepping stone to meet our ambitious growth targets in Europe and improve our access to London’s deep and advanced capital markets.”

Leaf Mobile recently announced its financial results for the third quarter of 2021, which showed growth of 4 percent to $ 15 million in its “historically slow” quarter.

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