Lottomatica prepares for stock exchange listing and IPO launch at the end of April – Corriere.it

Lottomatica, one of the main operators in the Italian gaming sector, is preparing to arrive at Piazza Affari. Indeed, the company has announced its intention to proceed with the listing of its ordinary shares on Euronext Milana regulated market organized and managed by Borsa Italiana.
News already approved by the ordinary shareholders’ meeting last February which saw the company close 2022 with revenues of 1.4 billion euros and an ebitda of 460 million euros and which has just announced that it had recorded revenues between 421 and €423 million in the three-month period ended March 31, 2023, an increase of 19-20% compared to the same period in 2022.

The free float, according to Lottomatica, will derive from an offer reserved for qualified investorsthrough newly issued shares through a capital increase (equal to 425 million with the proceeds which will be used to implement the strategic plan and reduce its financial leverage) and existing common stock which will be offered for sale by Gamma Topco. The total number of shares covered by the offer – reads a note – in addition to the other terms and conditions of the same, will be determined close to the start of the offer scheduled for the end of April 2023, compatibly with market conditions and subject to the release of the provision for admission to listing by Borsa Italiana as well as the release of the authorization to publish the prospectus by Consob. Following the offer, the company’s net financial debt, pro forma for the capital increase, will be approximately 1.29 billion euroswhich last April 12 received a commitment from Barclays Bank PLC, Deutsche Bank, Goldman Sachs, JP Morgan, UniCredit, Mediobanca, BNP Paribas, Banco BPM to sign a bridge loan agreement which will provide a line of credit for a total amount of up to 1,100 million euros.