Games Global files to withdraw US IPO plan
(Reuters) -Games Global has withdrawn its initial public offering registration in the United States, the UK-based maker of online casino-styled games said on Monday, a day before its stock market debut in New York.
The company, which publicly filed for the IPO with the U.S. Securities and Exchange Commission last month, said it had decided to not pursue its listing at this time due to "current market conditions."
Isle of Man-based Games Global had aimed for a valuation of as much as $2.13 billion in its IPO.
Along with selling shareholder Zinnia Ltd, the company had planned to raise as much as $275.5 million by offering 14.5 million shares at a price range of $16 to $19 apiece.
Founded in 2021, Games Global develops and distributes casino-style gaming content and offers over 1,300 exclusive games.
Games Global was slated to debut on the New York Stock Exchange on Tuesday.
Earlier this year, Warburg Pincus-backed specialty insurance company Fortegra Group also scrapped its plans for a stock market debut in New York citing "prevailing market conditions."
(Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Shounak Dasgupta and Alan Barona)
