The Tencent and Warner Music-backed game development platform looks set to maintain its $29.5bn valuation in its direct listing today.

Roblox, the US-based online gaming platform developer backed by internet group Tencent and record company Warner Music Group (WMG), will list on the New York Stock Exchange today.

The company has opted for a direct listing and expects its shareholders to sell up to 199 million shares. The NYSE has set a guidance price of $45.00 per share, the same price at which Roblox raised $520m in January this year at a valuation of $29.5bn.

Founded in 2004, Roblox…

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.
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