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Sumo Group Plc

Sumo Group plc Float after successful £78.15m fundraise through Zeus Capital

Sumo Group plc, (LON:SUMO) one of the UK’s largest providers of creative and development services to the video games and entertainment industries, recently announced it’s admission to The London Stock Exchanges’ AIM market. Upon Admission, the Company had a market capitalisation of £145 million, following a successful £78.15 million total fundraise. The fundraise raised c.£38.45 million for the Company and c.£39.70 million for the selling shareholders, both at 100p per Ordinary Share. The fundraise received strong demand from blue chip institutional investors.

Zeus Capital continues it’s strong track record acting as Broker and Nominated Advisor on the IPO for Sumo Group which provides creative and development services to the video games and entertainment industries, from studios in Sheffield, Newcastle, Nottingham, Pune (India) and Vancouver (Canada).

Since then the company announced that Sumo Digital Limited has now taken on the Newcastle studio of CCP Games (the “Studio”), through an asset purchase agreement for a nominal cash consideration. This was the opportunity to open a new studio to which the Group referred in its Admission Document dated 15 December 2017.

Carl Cavers, CEO of Sumo Group, said: “We are delighted that such a talented group of individuals has joined Sumo Digital, further enhancing the Group’s skills and depth of expertise. Our experience of opening the Nottingham Studio in 2016 shows us that expansion into a new location opens the door to a whole new pool of talent, a crucial element in our growth plans.”

The company market cap has since increased to over £167m.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.