David Beckham's esports team set to sell shares

David Beckham is set to make his debut on the London Stock Exchange.

Or at least his esports company is.

The soccer star is planning an IPO for Guild Esports, which owns and develops gaming teams.

A Reuters source says it will list about 40% of its shares, with a view to raising 20 million pounds - about 26 million dollars.

That’s modest by stock exchange standards.

But the deal would still be a milestone, marking the first time an esports company in the UK has listed on the London market.

Global esports had revenue of 951 million dollars in 2019, and 443 million viewers, according to analytics firm Newzoo.

Guild says proceeds from the share sale will be used to recruit new players and invest in the brand.

The IPO will also offer hope to European exchanges.

New listings in the region were at their lowest in eight years during the first half of 2020.

But there are flickering signs of life.

Online beauty retailer The Hut Group is expected to debut on the London market this month.

That’s potentially the biggest IPO of a UK firm since 2013.