Prospectus released, with a target date for listing on Nasdaq First North Premier of March 17 this year
Mobile casino operator LeoVegas has published a prospectus and announced that it will be listed on Nasdaq First North Premier on March 17th, 2016.
The intention is to diversify the company's ownership base through a combined sale of existing and newly issued shares.
In a statement Friday the founders and owners of the company said they had decided to list the company as a platform for growth, and that the shares would trade under the ticker "LEO". The offering will be made to the general public and institutional investors in Sweden and other countries, including the USA.
Between 25,985,848 and 26,711,780 shares in LeoVegas will be offered, corresponding to 26 — 27 percent of the total number of shares in the company. Of these shares, between 5,843,750 and 6,678,571 are newly issued shares and between 20,033,209 and 20,142,098 are shares offered by the selling shareholders.
Aggregate Media and certain other selling shareholders have reserved the right to, in the event of sufficient demand, increase (upsize) the Offering with a maximum of 2,462,000 additional existing shares, corresponding to a maximum 2.5 percent of the total number of shares in the company after completion of the Offering and based on a subscription price at the top of the price range.
The main shareholders, SEB Foundations have provided Carnegie Investment Bank AB and Skandinaviska Enskilda Banken AB – the joint global coordinators – with an overallotment option of up to 4,006,767 additional shares, corresponding to a maximum 15 percent of the shares in the Offering (excluding the Upsizing shares).
Provided that the Offering is completed at a subscription price corresponding to the midpoint of the price range, and provided that the selling shareholders exercise their right to increase the Offering and the Overallotment Option is fully exercised, the Offering will in total comprise of
32,735,309 shares, corresponding to approximately 33 percent of the total number of shares in the company.
The offering price will be determined by the board of LeoVegas and the main shareholders, in consultation with the joint global coordinators, and will be established in the range of SEK 28 —32 per share. The final offering price is expected to be published on or around March 17, 2016.
The total value of the Offering (including the Upsizing shares) based in the price range amounts to approximately SEK 817 — 910 million and approximately SEK 929 — 1,035 million if the Overallotment Option is fully exercised.
Online Casino News Courtesy of Infopowa