(Telestock) – Intermediate Range has initiated the placement of 15 million shares of Lottomaticarepresenting approximately 6% of Lottomatica’s share capital, through a private placement via an accelerated bookbuilding offering.
Upon completion of the placement, Gamma Intermediate will retain a direct stake of approximately 51.5% of Lottomatica’s share capital.
“Gamma Intermediate has agreed to a 90-day lock-up for its remaining Lottomatica shares, subject to a waiver by the Joint Global Coordinators and certain other customary waivers.”
The placement – explains a note – is aimed at eligible institutional investors. “There will not be a public offering in any country. The final terms of the Placement are expected to be announced on or around 20 September 2024. Settlement for the Placement is expected to take place on or around 24 September 2024”.