Devolver Digital (DEVO) stock IPO debuts in London, Sony discloses 5% stake
Devolver Digital is the latest gaming company to go public, with an IPO listing on the London stock exchange.
It’s always fascinating when a company that’s been around for a while decides to go public. It’s even more interesting when one of the most recognizable names in the gaming industry becomes publicly traded. Devolver Digital (DEVO), which publishes some of the most beloved indie titles, has gone public with an IPO listing on the London Stock Exchange.
Devolver Digital announced that it was going public in a post on its official website. Now listed on the London Stock Exchange, the public can buy and sell shares of the company, which is operating under the stock symbol of DEVO.
Shoutout to our friends @DevolverDigital on their public offering today! We’re honored to be an investor. Keep shining a light on those great indie games 💡 pic.twitter.com/6Fnn7iTT9b
— PlayStation (@PlayStation) November 4, 2021
Devolver Digital is valued at $950 million USD. On the London Stock Exchange website, we can see more specific details about Devolver Digital’s stock. Today, DEVO has a high of £185 and a low of £167. The first day has been active, with plenty of people already beginning to move shares, including some notable parties. Sony officially announced that it was making a 5% investment into the company. In addition to Sony, NetEase holds an 8% stake in Devolver Digital.
Devolver Digital (DEVO) is just the latest gaming company to become a publicly-traded stock. Just last month, FaZe Clan announced that it would be going public as well. For more on the stock market and how it’s impacting the video game industry, stick with us here on Shacknews.
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replyDonovan Erskine posted a new article, Devolver Digital (DEVO) stock IPO debuts in London, Sony discloses 5% stake
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Devolver Digital is now a publicly traded company, over at the London Stock Exchange's Alternative Investment Market.
Estimated value at launch was $1B (after initial trading)
Sony appears to have bought 5% of the shares, which is interesting.
https://www.gamesindustry.biz/articles/2021-11-04-devolver-digital-valued-at-usd950m-as-it-floats-on-london-stock-exchange-
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Devolver found a perfect niche for the types of indie games it publishes. Its like, I sorta know what type of game to expect from a Devolver title, just like with an Annapurna Interactive title - both have wisely developed a "bounded" catalog rather than anything under the sun. Helps a lot on quality control.
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And in more Devolver news they have acquired:
- Dodge Roll (Enter the Gungeon)
- Nerial (Card Shark)
- Firefly Studios (Stronghold)
https://www.gematsu.com/2021/11/devolver-digital-acquires-dodge-roll-nerial-and-firefly-studios-as-it-goes-public-
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When reviewing for WP, the fact they've run the series since 2001 is a since they're been keeping their heads above water. And these 3 studios only bring Devolver's studio count to 5, so they clearly see something with it. (Dodge Roll + Nerial (which made Reigns, I realized :P) are damn good bets for them)
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