Team17 has raised £79 million in a share placing.

The videogames giant, listed on the junior market of the London Stock Exchange, expects the shares to be admitted for trading on 18th January. It said they were ‘well oversubscribed with considerable support from existing shareholders’.

CEO Debbie Bestwick MBE will hold a reduced 20% of the total equity following the move, having purchased around 140,000 of the 11 million new shares (1.3%) which takes the total number of shares to 145m.

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Team17 recently acquired fast-growing videogame Hell Let Loose as well as a studio in the US after reporting strong annual trading performance.

The historic firm, which has bases in Wakefield and Nottingham, moved from primarily developing titles around its Worms franchise a decade ago to a new model as a global games label and creative partner to independent games makers.

It has since added educational entertainment apps for children to its portfolio.

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