David Beckham's Guild Esports raises $26m ahead of Friday's London IPO debut

The David Beckham co-owned company Guild Esports has reportedly raised over $25 million ahead of its London Stock Exchange debut on Friday, October 2. Guild Esports is set to become the first esports organisation in the UK to go public, the funds of which will mostly be used for expansion and recruit new players. The UK-based firm plans to use its capital to recruit players to its various rosters using a similar franchise model like teams in the English Premier League, NFL and the NBA.

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Guild Esports worth before IPO debut

According to Reuters, Guild has raised £20 million ($25.73 million) ahead of its London IPO debut. The owners hope to raise another £20 million by listing as much as 40% of its shares. The IPO listing values the company at around £50 million ($65 million). The report further claims come Friday, about 250 million shares will be available for the general public to invest in.

The price per ordinary share will be 8 pence. Zeus Capital Limited and Mirabaud Securities Limited will be the joint brokers for the IPO. 

David Beckham, who is one of the co-owners of Guild Esports, will hold a 4.78% stake in the company following the initial public offering. He will remain the fourth-largest shareholder of Guild. Other investors include Toro Consulting Ltd, Blue Star Capital PLC and Schroder Investment Management Limited. 

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Carleton Curtis, the executive chairman of Guild Esports, said during last month's press release, "Guild will be the first e-sports franchise to join the London stock market," Curtis said in the press release. "It will provide us with the cache, credibility and capital to fulfil our ambition to become one of the world's top 10 e-sports franchises within three years."

Guild has progressed steadily in the hotly contested esports scene to make a name for itself. David Beckham bought a "significant minority stake" in the company through his investment vehicle, DB Ventures. The esports organisation will benefit from the former England international's "global influence and following to support the development of the company's brand and business."

Guild Esports currently boasts an active Rocket League roster that features European talents like Joseph 'noly' Kidd, Thomas 'ThO.' Binkhorst, Kyle 'Scrub Killa' Robertson and Kieran 'meqza' Durell. In addition, Guild also has pro FIFA player Niklas “NRaseck” Raseck in their ranks. In the coming days, Guild will likely look to enter competitive titles like Fortnite and Counter-Strike: Global Offensive (CS:GO).

 

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(Image Credits: David Beckham Instagram)