Intralot presents new voting shares alongside Capital Augmentation
Greek lottery provider Intralot SA has introduced new voting shares alongside its previously announced plans for capital increase.
Launched on Monday (October 6), Intralot opened a double offer of new ordinary voting shares and increase in share capital. The shares are worth €0.30 ($0.35) each, and the offer price is capped at €1.27 per share.
According to the official file, the number of offering shares launched is expected to be between 350 million and 450 million. The Athens-based company distributed them in Greece for a three-day deal that closed on October 3 and worldwide through a private placement process.
To this end, Deutsche Bank, Goldman Sachs and Jefferies have been appointed as joint global coordinators and bookrunners, with Barclays as lead bookkeeper. Alpha Bank and Piraeus Bank served as co-managers in Greece.
The voting actions come after Intralot announced last month that the company had raised €660 million in long-term funding, funds paid towards the €2.7 billion acquisition of Bally’s Interactive. The financial deal was made up of a secured loan of 460 million euros with a six-year guarantee from institutional lenders and 200 million euros of amortization financing from Greek banks.
Once the Bally acquisition goes through, Intralot will be the majority shareholder of Bally’s Interactive. This, alongside other financial moves, saw the company’s balance sheet improve throughout the year, with net debt down €35 million compared to 2024.
While revenue stagnated in early September, staying level is strong progress for the company after several years of mounting debt. The results of this latest voting share introduction, alongside its robust financing plan, will go a long way to increasing investor confidence, if it proves successful.
The Bally acquisition marked one of the biggest industry mergers in recent years and could quickly establish Intralot as a key player in the market.
Featured Image: Intralote
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