LONDON, UK: World Chess Plc, a leading chess organisation seeking to promote the mass market appeal of chess globally through the commercial offering of chess related activities, announced its intention to seek admission of its Ordinary Shares to the Official List and to trading on the London Stock Exchange’s Main Market for listed securities, and a placing of new shares to raise up to €8 million.

It is expected that the Admission will become effective and that dealings will commence in November 2022, under the ticker CHSS.

Novum Securities Limited is acting as Financial Adviser to the Company and Retail investors will be able to register their interest in the IPO by applying through PrimaryBid prior to Admission.

Established in 2017, World Chess Plc is the holding company of a group which aims to promote the mass market appeal of chess globally through the commercial offering of chess related activities. This includes the organisation of top-level tournaments, operation of the official online gaming platform of the International Chess Federation (FIDE) and other sport, lifestyle and social activities, and merchandise related to chess.

Chess is a global mass participation sport with more than 600 million active players, with numbers increasing due to the growth of online platforms, however it is still much less commercialised than other sports. Market expansion remains in its early stages, and World Chess is well-positioned to take advantage of the sector’s growth through online, in-person and hybrid chess events and activities, and by providing complementary product offerings to players, spectators, and partners. 

The Directors believe that Admission will enable access to capital on an ongoing basis to fund the Group’s growth trajectory through investment in its online platform and marketing strategies, and will also improve the Group’s public profile.

Highlights

● World Chess aims to make chess more accessible and increase participation, updating the image of chess, supporting the recent surge in the popularity of the sport

● Mission to support the commercial growth of chess and its wider enjoyment around the world through a complementary product and service offering, the World Chess Ecosystem

● World Chess Ecosystem covers official online FIDE gaming platform, events and competitions, clubs, media, talent, sponsorship and merchandise. 

● Partner of the International Chess Federation (“FIDE”) since 2012, with an exclusive position to offer online ratings and titles, recognized by FIDE, to players. 

● Operator of FIDE Online Arena, the official FIDE online gaming platform, allowing subscribing players of all levels to participate in ranked online matches, and organiser of top-level professional tournaments including the Grand Prix series

● World Chess is leading the way for chess to catch up with other sports and compete for global attention through growing media, sponsorship and talent management activities

● Commercial potential of chess historically overlooked by global media and business despite chess being a global, mass participation sport, typically over-represented in higher income and educational qualification demographic groups

● Experienced and passionate management team with extensive experience working in the chess industry

Ilya Merenzon, Chief Executive Officer of World Chess, said: “I am pleased to be announcing our intention to float on the London market at a transformational time for chess and for our business. There continues to be an explosion of interest in chess, which has accelerated through recent years and even more during the pandemic. To keep pace with this growth we are scaling up our operations and expanding our range of services internationally.

“We believe chess is the only remaining mass participation sport not yet fully benefitting from the creativity and investment of the commercial sector. As the business world begins to recognise the opportunity to profitably offer chess fans more of what they want, there is an incredible opportunity to continue increasing interest in chess worldwide. Our goal is to build on the foundations of millennia of people playing chess for fun as well as for intellectual challenge, reinvent the game of chess so it fits more easily into modern lifestyles and, above all, ensure chess is accessible to more people.

“Our ecosystem business model supports fans through their lifelong chess experience. We help players, sponsors and partner organisations, and are committed to a sustainable approach to business. We have the advantage of being an established brand with almost a decade of experience hosting high-level events globally. Our online offering benefits from using a newly built technology platform to leverage the established World Chess brand.

“We are hugely passionate about chess and can’t wait to take the next step in developing the sport that looks like a hybrid of e-sports with a Nobel prize awards ceremony.”