game store
Game will relist on the London Stock Exchange at 200p per ordinary shareReuters

Video game retailer Game will return to the stock market on June 11 with a valuation of £340m – two years after it fell into administration.

Individual stocks will be valued at 200p per ordinary share at its IPO. The retailer, which also operates in Spain, will be hoping to raise roughly £121m (€149m, $203m) for the store and its shareholders as it looks to sell a stake of around 35.5%.

Almost 2,000 employees lost their jobs in 2012 when the firm collapsed following a slump in sales and a refusal from major suppliers, such as EA, to allocate major titles to Game stores as cash flow was at a standstill for the merchant.

However, rejuvenated by new boss Martin Gibbs – a former HMV executive – and under new owners in the form of US hedge fund Elliot Advisors, Game Digital, as it's now officially known, is making a return to the London Stock Exchange.

"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," said Gibbs.

"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."

Part of the owner's plans to resuscitate the struggling brand was to close 277 stores in the UK and 32 in Spain.