Shares were trading at 12.62p in early dealings, compared to a list price of 10p.
Virtual reality is expected to take off as a media form as headsets, hardware and content are now being produced for the mass market.
Immotion specialises in the 'Out of Home' version of virtual reality, a market forecast by the company to grow eight-fold to US$8bn by 2022.
This involves installing VR pods in places such as cinemas, theme parks and museums and also in retail outlets to offer a VR experience.
Close-ups of whales underwater, Stonehenge at daybreak and space battles are examples of the types of content available - The Yorkshire Museum used the technology in its Jurassic World exhibition in March.
Immotion already has pods in leading visitor attractions across Europe and the US under its own brand as well as through a partnership network that includes Genting Resorts World.
Merlin Entertainments' Lego Discovery Center in Boston, US also has pods installed.
A first retail store opened in Bristol in December.
Martin Higginson, chief executive, said: "In combining award-winning storytelling, CGI production and precise motion synchronisation, Immotion Group can deliver experiences that are not easily replicable in the 'in home' market."