Lottomatica, the placement price will be between 9 and 11 euros per share – Corriere.it

Lottomatica — active in the legal public gaming market — returns to Piazza Affari. The company has identified an indicative valuation range of its ordinary shares for the next placement on the Stock Exchange: the price will be equal to a minimum of 9 and a maximum of 11 euros per share. Based on this IPO price fork the market capitalization following the Lottomatica capital increase will be between 2,265 and 2,670 million euros.

The offer period is expected to start on April 24, 2023 and end by April 27, a time window that can be shortened, extended or suspended. The offer will therefore have a maximum total value of 600 million euros and will consist of newly issued shares offered by the company for a maximum value of 425 million euros – deriving from a capital increase with the exclusion of option rights – to which are added existing shares for a maximum value of 175 million held and offered by the GammaTopco fund.

Goldman Sachs, in its capacity as stabilization manager, has been granted an option, exercisable in whole or in part during a period of 30 calendar days following the first trading date for the shares on Euronext Milan, to purchase up to of 10 thousand additional shares (based on the minimum price of the offer valuation range) and approximately 8.2 thousand additional shares (based on the maximum price of the offer valuation range), up to a maximum of approximately 15% of the shares subject to the offer (`over allotment option). The final number of tendered shares and over-allotted shares will depend on the final tender price.

The offer will consist of an institutional placement exclusively reserved for qualified investors from the European Economic Area and the United Kingdom and to institutional investors in offshore transactions pursuant to Regulation S of the United States Securities Act of 1933, as subsequently amended, and, in the United States, limited to persons reasonably deemed to be “Qualified Institutional Buyers” pursuant to Rule 144A of the Securities Act, excluding of those countries in which the offer is not permitted in the absence of authorizations from the competent authorities, in accordance with the laws in force, or exemptions from applicable laws or regulations.

The final offer price of the shares will be determined by the selling shareholder and by the company in consultation with the Joint Global Coordinators on behalf of the Underwriters, according to a bookbuilding process, taking into account economic and market conditions, expressions of interest received from investors institutions for the shares on offer and other factors deemed appropriate. The offer price may be set within, below or above the offer valuation range and will be disclosed by publication on the company’s website after completion of the offer period. No offer to the general public is envisaged in Italy and/or in any other country.