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Lotto24 raises funds to expand lottery brokerage operations

1st October 2013 7:41 am GMT

German online lottery brokerage Lotto24 has successfully completed a new rights offering, raising approximately €17m which the company intends to use to increase marketing activities in Germany and further develop its brokerage platform.

Lotto24 had proposed to increase in authorised share capital earlier this year at the company’s first Annual General Meeting in August.

Last week Lotto24 confirmed that it had achieved its targeted net issue proceeds by issuing all 5,988,816 offered in new shares from authorised [...]

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