Light & Wonder mulls secondary listing on Australia’s ASX
The listing would be in addition to its existing primary Nasdaq listing, with Light & Wonder’s board having identified a number of “substantial potential benefits” that would come as a result of the listing.
These, the group said, would include further strengthening its profile in Australia, one of the core markets for its gaming business, as well as allowing access to new long-term institutional investors in the country that would complement its existing base of shareholders in both the US and Australia.
Light & Wonder said it would consult with its shareholders as part of the evaluation, adding that there is no assurance it would pursue a secondary listing.
“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,” Light & Wonder executive chair Jamie Odell said.
“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.”