Is Novomatic Planning To Go Public?

IS NOVOMATIC PLANNING TO GO PUBLIC?

10th March, 2017 at 21:27:24
Source: http://www.azonlinecasinos.com

Austrian gaming technology group reportedly mulling a London or Frankfurt listing.

According to a Reuters news agency report Friday Austrian gaming technology giant Novomatic is mulling an IPO in London or Frankfurt, assisted by the Australian investment banking group Macquarie.

The report notes that such a move could value the company at Euro 6 billion, and that banking mandates will likely be awarded later this month.

Novomatic is owned by the family of its billionaire founder Johann Graf, and has a wide range of gaming involvement that includes the manufacture of slot machines and other gambling equipment and technology. It also operates casinos and a network of sport betting shops.

Reuters says that the listing will probably take place in the second half of this year, although both Novomatic and Macquarie declined to comment.

The company is apparently looking to list roughly 20-30% of its stock, according to unidentified sources; at a valuation of more than Euro 6 billion, that would make it one of the biggest ever IPOs of an Austrian company.

Novomatic employs roughly 28,000 people and has subsidiaries in 50 countries. It generated revenue of Euro 3.9 billion in 2015, and recently inked an agreement to acquire 53% of Australian rival Ainsworth Technology, subject to the required approvals (see previous report).

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