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Guild Esports, a talent development company for esports that lists David Beckham as co-owner, has raised £20 million ahead of its debut on the London Stock Exchange on Friday, 2 October. The esports enterprise will be Beckham’s first company to go public in Britain.
Road to IPO
Guild Esports said on Tuesday that its oversubscribed offering of 250 million shares was priced at 8 pence per ordinary share.
The former England soccer captain is a founding shareholder of Guild Esports and will hold a 4.78 per cent stake in the company following the initial public offering. He is the fourth-largest shareholder, according to a prospectus approved by the UK Listing Authority.
The enterprise has mentioned in a statement that some esports tournaments are attracting a bigger audience than the Wimbledon tennis championship, cycling’s Tour de France, and golf’s U.S. Open.
Globally, the esports market attracted some 443 million viewers and has generated US$951 million in revenue in 2019, Newzoo estimates.
Guild Esports is hoping to bank on Beckham’s large following and influence in generating support for the business.
What’s next for Guild Esports?
Although Guild Esports posted a net loss of £1.2 million over 10 months ending 30 June, the £20 million raised will be used to invest in the brand and develop recruitment for its coaching academy. The coaching academy will train players covering Rocket League, EA Sports’ FIFA, and Fortnite.
It currently has one FIFA player and three Rocket League players, but aims to have 20 talents by the end of 2021.