Game to push button on IPO tomorrow valuing it between £340m and £360m

Sources indicated that the entertainment retailer’s shares will be priced at between 200p and 212p.

The valuation is less than the mooted £400m that was reported last month, however sources said the offer is fully subscribed.

When Game unveiled plans to float last month it caused some consternation in some quarters who raised questions over the cyclical nature of the market, as well as the fact that it had been in administration just two years ago.

Game boss Martyn Gibbs told Retail Week last month that the retailer, which has rebranded corporately to Game Digital, plans to invest funds raised through the IPO in its digital offer.

The retailer operates 560 stores across the UK and Spain, compared with 874 stores in 2012.

Game generated adjusted EBITDA of £50.8m in the 26 weeks to January 25, up from £24.5m a year before. Sales increased from £427.3m to £586.4m.

For the 52-week period to January 25, Game generated revenue of £815.7m and adjusted EBITDA of £47m.