Winvia Entertainment PLC has floated on the junior AIM market of the London Stock Exchange with a market cap of £205 million.

The company, which operates prize draw brands BOTB and Click Competitions in the UK as well as online gaming in Romania, has raised £40m in the IPO.

The firm – which has expanded rapidly through a combination of organic development and targeted acquisitions – made £7m profit before tax last year with £153m gross revenue.

The proceeds of the placing are planned to be used to fund acquisitions in the UK prize draw sector. It said it is in discussions with several potential acquisition targets.