Major Austrian gambling supplier set for IPO

The major Austrian online and land gambling technology and equipment supplier Novomatic is pushing ahead with preparations for what will probably be Austria’s biggest IPO yet, according to a Reuters report from Frankfurt.

The report notes that Novomatic will probably officially announce its listing plans in autumn and that the group could be valued at up to Euro 6 billion in a stock market listing. The company is preparing for regulatory changes currently being mulled by government.

It is anticipated that the listing will primarily be in Frankfurt, with Vienna as a secondary. The shares offered wll be newly issued, insiders have claimed. Novomatic is working with Bank of America and Credit Suisse as global coordinators on the IPO with the help of UBS, UniCredit, Commerzbank as bookrunners.

Skadden is acting as legal advisor and Macquarie as independent IPO advisor.

Novomatic is owned by the family of its billionaire founder Johann Graf, and also operates casinos and a network of sport betting shops. The group is expected to post EBITDA of more than Euro 600 million this year, and is likely to be valued on the IPO at around Euro 6 billion.

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