US VIDEO game maker Devolver Digital made a shining debut on London's junior AIM yesterday, as shares surged almost 18 per cent.

After listing at a placing price of 157p per share on admission - pitching its market cap at almost £700m - Devolver's stock closed at 185p per share, sending it to almost £820m.

As the video game market continues to benefit from a pandemic-induced boom, Devolver raised almost £191m in the listing, with £36.5m going to the company.

CEO Douglas Morin said the company's whole team were shareholders and would thus benefit from added liquidity from the float.

"An IPO is the right choice for us to ensure our continued growth and support even more wonderful games," Morin said. "It also gives us access to capital markets to continue investing in organic growth and talent."

Through recent acquisitions, Devolver has its own-IP franchises, owns two UK studios, and a publishing brand.

The gaming company has 90 published titles under its belt, and said it has will release more than 30 games over the next two years,

(c) 2021 City A.M., source Newspaper