Game has set the offer price of its IPO at the low end of expectations at 200p per share, valuing the retailer at £340m. yesterday revealed Game would unveil a float price at between 200p and 212p today. The retailer will have a free float of 35.5% as it seeks to raise £121m. Game will receive £20m from the issue of new shares in the offer while major shareholder Elliott Advisors will pocket the remaining proceeds.

Conditional dealings on shares will start today at 8am with unconditional dealings to begin next Wednesday.

Canaccord Genuity is acting as adviser, sole sponsor and joint bookrunner to Game, while HSBC and Liberum are acting as joint bookrunners.

The video games specialist will also reward 20,000 of its most loyal customers with virtual shares, which will track the value of ordinary shares. The value of the virtual loyalty shares will be £2m, which will be largely funded by Elliott Advisors.

Game Digital chief executive Martyn Gibbs said: “Game Digital is a profitable and cash generative business with a great team, strong supplier partnerships and exciting digital growth opportunities. These fundamentals have enabled us to attract high-quality investors who we welcome into our business.

We are a truly specialist retailer, with a loyal customer base, operating in a growing market.

“Our supplier partners are producing increasingly advanced gaming content, for which we will continue to develop and facilitate new ways to buy and play. The business is well-placed for the future.”