“L&W will consult with shareholders as part of this assessment,” the group said in a press release on Wednesday, adding that “the board sees significant potential benefits for the company and its shareholders.” 경마사이트프로
These benefits include “raising the company’s awareness in Australia, one of the leading markets for the company’s gaming business,” and “giving the company access to new long-term Australian institutional investors that will complement strong existing shareholder bases in the United States and Australia,” it said
On Wednesday, Light & Wonder’s Nasdaq-listed shares were down 5.49% at $55.04 per share.
In an update, Light & Wonder said financial institutions Goldman Sachs Australia Pty Ltd and Jarden Australia Pty Ltd would “help with the valuation” regarding the secondary listing.
The game technology company said it would “update the market” only after “the evaluation has been completed and whether to proceed with the ASX second listing has been decided.” Light & Wonder added that it was not “confident” that it would pursue the move.
“ASX is a long-established premium market as a platform for global game companies and a deep, fluid pool of sophisticated investors and market participants with a deep understanding of the gaming business,” said Jamie Odell, chairman of Light & Wonder in Wednesday’s announcement
He added that such an investment audience “will appreciate the value and long-term potential of L&W’s broad international business and strategy” from the group’s perspective.
Mr Odell is the former chief executive of Australian listed market rival Aristocrat Leisure Ltd.
Light & Wonder reported a revenue increase of 17.6% Y/Y to $21 million in the fourth quarter. Outstanding debt as of December 31 was $3.9 billion. 31.