Online lottery

NeoGames prices $81.7m IPO

1 minute read
Online lottery solutions provider NeoGames raised $81.7m through initial public offering, after selling 4.8m shares, priced at $17.00 apiece.
Wall Street

The initial public offering, which sees NeoGames shares begin trading on the Nasdaq Global Market today (19 November), consisted of 2.6m ordinary shares sold by the company, and 2.2m ordinary shares offered by selling shareholders. 

While the supplier had initially expected to raise $72m by selling the shares priced in the range of $14 to $16, the higher pricing meant generated proceeds that were 13.5% higher than anticipated. 

The company, when first announcing plans for the listing, said it anticipated generating up to $90m through the offering.

The supplier has also granted the underwriters a 30-day option to purchase up to 721,128 ordinary shares at the initial public offering price. 

Read the full story on iGB North America.

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