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Gameplay.com shares leap on AIM debut

By editorial@silicon.com

Published: 3 August 1999 15:15 BST

Online computer games store, Gameplay.com, has cashed in on UK investors' growing passion for Internet stocks, with its shares jumping 64 per cent on their first day of trading.

Shares in the newly created firm - whose Web store has yet to go live - closed at 221p on London's Alternative Investment Market (AIM), after going on sale at 135p. Based on that share price, the company is valued at £88m.

The firm was formed in March from the merger of game vendor, Interactive Commercial Enterprises, and BT's online gaming site, Wireplay.

Gameplay's spectacular success follows that of subscription-free Internet service provider, Freeserve, which made its debut on the London Stock Exchange last week.

Freeserve shares have risen steadily from their IPO (initial public offering) price of 150p, reaching 246p on Monday.

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