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Games Global targets up to $2.1 billion valuation in US IPO

(Reuters) - Games Global, the UK-based maker of online casino-styled games, said on Thursday it was targeting up to $2.13 billion in valuation in its initial public offering in the United States.

The U.S. IPO market is on a rebound in 2024 after a two-year dry spell amid firming hopes of a soft landing for the economy.

The company said that along with a selling shareholder, it was looking to raise as much as $275.5 million through the sale of 14.5 million shares at a price of $16 to $19 per share.

Games Global is offering nearly 6 million shares in the IPO, while its shareholder is selling 8.5 million shares.

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Founded in 2021, the firm develops and distributes casino-style gaming content and offers over 1,300 exclusive games.

Games Global will list on the New York Stock Exchange under the symbol "GGL".

J.P.Morgan Securities, Jefferies, Macquarie Capital, Barclays Capital and BTIG are among the underwriters for the IPO.

(Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Pooja Desai)