London (CNN Business)A company co-founded by David Beckham plans to become the first esports franchise to list on the London Stock Exchange, taking advantage of the growing popularity of online gaming.

Guild Esports, a UK-based owner and developer of esports teams, confirmed plans for an initial public offering in a statement Wednesday. The company said it wants to build a global sports franchise modeled on the English Premier League, NBA and NFL. It will float 40% of its shares next month and hopes to raise £20 million ($25.9 million) to recruit new players and invest in the business.