Light & Wonder looks to Australia for long-term investors16th March 2023 10:01 am GMT
The board of directors of New York-listed gaming supplier Light & Wonder are evaluating a secondary listing of the company’s shares on the Australian Securities Exchange (ASX).
The board believes that a secondary listing in Australia will enhance the company’s profile in the country, one of L&W’s leading markets, and give the company access to new long-term Australian institutional investors that would complement its existing base of shareholders in the United States and Australia.
“The ASX is a premium market with a long track record as a platform for global gaming companies and a deep and liquid pool of sophisticated investors and market participants who have a strong understanding of the gaming business,” said Jamie Odell, executive chair of the Light & Wonder board.
“We believe they will appreciate the value and long-term potential of L&W’s broad international business and strategy. We look forward to engaging with the market and our current shareholders on a potential secondary listing.”
Goldman Sachs Australia and Jarden Australia are assisting L&W with the evaluation of a potential secondary listing on the ASX.
Shares in Light & Wonder Inc. (NASDAQ:LNW) closed 5.49 per cent lower at $55.04 per share in New York Wednesday, prior to this announcement.