MILAN, Feb 17 (Reuters) – Italian gaming company Lottomatica intends to raise fresh money with an initial public offering (IPO) in Milan that could take place as early as April, two sources close to the matter said on Friday.
Earlier this month, Italy’s EuroGroup Laminations (EGLA.MI) and German web hosting company IONOS (IOSn.DE) managed to go public after trading slowed over the past year due to a clouding economic outlook due to rising inflation and the war in India of Ukraine had dried up.
EuroGroup and IONOS shares are now each trading flat and up more than 10% compared to their IPO price.
Lottomatica, owned by Apollo Global Management (APO.N), aims to offer new and existing shares, the sources said.
The company will use the additional resources to shore up its finances and continue to grow through acquisitions, one of the sources added.
The Company offers gambling at sporting and other events both online and in retail stores, and operates a network of in-building slot machines across Italy.
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In January, Lottomatica announced that it was considering a potential public listing as a strategic option to support growth. At the time, sources told Reuters that an IPO could happen in the second quarter of 2023.
Reporting by Elisa Anzolin Editing by Keith Weir
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