or login with

Ladies and Gentlemen, Frontier Developments is floating (in stocks)

11 Jul 2013  by   Peter Parrish
Tweet about this on Twitter2Share on Facebook0Share on Google+1Share on Reddit0

Elite: Dangerous

Frontier Developments, six months after completing a successful Kickstarter for space sim sequel Elite: Dangerous, has announced that the company will roll the dice on the stock exchange. The company has applied for admission to the Alternative Investment Market (AIM) on the London stock exchange, a more loosely regulated set-up that allows smaller companies to float shares.

By doing this, Frontier Developments says it has raised an additional £4.0 million GBP in capital. Trading in Frontier shares will begin on 15 July. According to the press release about this, “Frontier is debt free, had £7.2 million of cash as at 31 May 2013, and has entered into a revolving credit facility with Barclays Bank plc for £3.0 million.” I’m not entirely sure what that last part means, but it’s some sort of loan I’d imagine.

The announcement of the Initial Public Offering (IPO) has met with a mixed response among Kickstarter backers. Many seem pleased that Frontier now has more cash to play with in making Elite: Dangerous, while others have expressed concerns about the inherent dangers of getting into bed with the stock market.

Tweet about this on Twitter2Share on Facebook0Share on Google+1Share on Reddit0

Related to this story

Have you got all our top PC game picks in your Steam library? Follow the IncGamers Curator list.
Register an IncGamers account to post comments, enter giveways and more!
You can also post through a social network or without logging in.
    
or login with
Game advertisements by <a href="http://www.game-advertising-online.com" target="_blank">Game Advertising Online</a> require iframes.