Expects first day of trading on Nasdaq First North Premier to be March 20, 2015
B2B live casino solution provider Evolution Gaming confirmed its intention to float on the Nasdaq First North Premier stock exchange today (see previous InfoPowa report).
The offering, comprising 13,824,267 existing shares (38.4 percent of the total shares outstanding), is targeted at the Swedish general public and institutional investors in Sweden and Internationally.
The "selling shareholders" consist primarily of the Company's senior management and Board of Directors who will consider increasing the number of shares sold in the event of sufficient demand.
Evolution Gaming said the final offering price will be determined through a book-building procedure and, consequently, based on investor demand and general market conditions but is expected to be within the SEK 70 – 80 per share range.
Already leading institutional investor Swedbank Robur Funds has committed to subscribing to 9.5 percent of the shares on offer while individual investors Staffan Persson, Peter Lindell, Erik Selin and Niclas Eriksson (together with Swedbank Robur Funds the "Cornerstone Investors") have committed to subscribed shares for an amount of SEK 215 million in total, corresponding to approximately 8.0 percent of the Company's total number of shares outstanding following the Offering.
Evolution Gaming published a prospectus under the investors tab on its website today (Monday) saying it expects its first day of trading to be March 20, 2015.
"The Board of Directors believes that the timing for a listing is right and looks forward to the continued development of the Company in a public environment," commented Joel Citron, Chairman of Evolution Gaming's Board of Directors.
Online Casino News Courtesy of Infopowacc