This come from E:D kickstarter update, full announcement here http://www.frontier.co.uk/news/latest/?artid=323&pageNum=0&blk=12
Frontier announces listing on the London Stock Exchange's AIM
Frontier Developments plc has applied for admission to the Alternative Investment Market (AIM) on the London Stock Exchange with a market capitalisation of approximately £39.4 million.
THIS ANNOUNCEMENT IS NOT A PROSPECTUS OR ADMISSION DOCUMENT AND DOES NOT CONSTITUTE AN OFFER TO SUBSCRIBE FOR OR PURCHASE ANY SECURITIES.
Frontier Developments plc (“Frontier†or the “Companyâ€), a leading independent developer of video games with studios in Cambridge, UK and Halifax, Canada, has applied for admission to the Alternative Investment Market (AIM) on the London Stock Exchange with a market capitalisation of approximately £39.4 million.
The Company has raised £4.0 million through a placing of new Ordinary Shares (the “Placingâ€), arranged by Canaccord Genuity (“Canaccordâ€). Trading in Frontier shares is expected to start on Monday 15 July 2013.
This follows a pre-IPO fundraising in June that raised £2.8 million. 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, so is in a strong position to take its business to the next stage.
Good news, bad news I guess.
Good news is they will have more money to do the game.
Bad news, well you know what usually happens to public owned games companies, they end being bought by the likes of E:A or Ubisoft then they close them down.
I'm not too surprised - all part of the business plan, I presume.
We the backers demonstrated the viability of the new game - the investment followed.
Oolite Naval Attaché
The bad news aspect is not good at all, especially when considering the history of the previous legendary game titles. I don't have an overview of this stuff, but I hope this is not a kinda business poker with Elite Dangerous on the ride...
XenonS
There's also the problem with having to please share holder.
Look like they are also flogging some new technology.
About Cobra
Frontier’s Cobra software technology has been developed and evolved since 1988. Initially conceived as a solution for the problem of easily porting the same game across different target hardware devices, Cobra today supports multi-core CPU and GPU architectures of PC, console, tablet and smartphone with a modular, high performance system offering of state of the art efficiency and visual fidelity that is applicable across a wide range of game genres.
Cobra incorporates a framework which enables rapid development of powerful game creation tools, which offer the ability to view, tweak and review changes to content (e.g. animations, audio, 3D models etc.) on target platforms in a live game session running on that platform, without the intervention of a programmer.
For more details on Cobra see http://www.frontier.co.uk/our_technology/
I don't think this is a good idea, i'm not saying they are not going to make money/profits. But FD has to make them consistently or have pissed off investors. What they did in the past means nothing and to be honest most of the FD library isn't filled with triple-A games that sold millions of copies. Going pubic costs a lot more money and then you have to file all these financial forums and stay in compliance etc... they should stay a private company and keep their money and grow the company.
... they should stay a private company and keep their money and grow the company.
..not if DB's intention is to get out of the field sometime soon (read: retirement plan)
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