We are delighted to have supported World Chess Plc on their admission to the Main Market of the London Stock Exchange.
World Chess Plc has raised gross proceeds of £3.04 million, through the placing and subscription of 666,905,501 ordinary shares at 6.25 pence per share. On admission, the company will have a market capitalisation of approximately £41.7 million.
World Chess is a leading chess organisation seeking to promote the mass market appeal of chess globally through the commercial offering of chess related activities.
“The completion of our IPO comes at an exciting time for chess and with the sport’s recent surge in popularity, we are now seeing new commercial opportunities opening up. Using our profile and positioning as a public company means we are well-placed to capitalise on these opportunities and grow World Chess.
“We would like to thank all those at PKF for supporting us over the past several months, their continued guidance has proved immensely valuable throughout the IPO process and we look forward to working with PKF as World Chess starts its life as a listed company.”