Nottingham based games developer Team17 is to be floated on the London Stock exchange, the company has confirmed today.

The company is known for its work on the long running tactical shooter Worms, as well as recent releases such as 3-D platformer Yooka-Laylee and top down prison break game The Escapists.

A spokesperson for the company confirmed the business will have its initial public offering (IPO) soon, and has been initially valued at between £200 million and £230 million.

He said: “The timetable is still fluid although we would expect formal listing of the shares to occur in May.

“The IPO creates more stability for staff and partners.

“It strengthens the business base and supports Team17’s ambitious growth targets.”

The spokesperson also gave details of why the company had taken the decision to go public.

He said: “The transaction creates the right foundation to support the growth of the business, enable Team 17 to retain and attract key staff and help raise our profile both in the UK and globally.”

Team17 was first established in 1990, publishing it’s first full game, fighting game Full Contact for the Amiga, in 1991.

Worms was first released in 1995, and Team17 has since published a total of 25 games in the main series, the most recent being 2016’s Worms W.M.D.

In the games, players take control of the Worms and aim to defeat the other teams using a variety of weapons to kill the opposing Worms.