VC-backed Green Man prepares for IPO

The proposed flotation is expected to give the company a market cap of around £100m, according to a report by the Sunday Times, and will raise fresh capital to support the company's plans to expand across the Middle East and China. It will also reportedly fund the company's plans to develop its games publishing operations.

Green Man received backing from Eden Ventures and The Creative Capital Fund in 2010, according to Unquote Data. It has also reportedly received financing from Kima Ventures and Atomico.

The business generated a turnover of £47.5m in 2017, according to publicly available documents, up from £41.5m year-on-year. It also generated an operating loss of £825,000 last year following an operating loss of £2.3m in 2016.

The company will reportedly publish its intention to float on 4 September.

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