Italy’s Lottomatica said on Monday its shareholders had approved the start of the process leading to an initial public offering (IPO) on Borsa Italiana’s Euronext Milan. Two weeks ago, two sources close to the matter had told Reuters that the company’s listing could happen as early as April.
Lottomatica, owned by Apollo Global Management, is aiming to offer new and existing shares, the sources said at the time.
The Italian gambling company will use the additional resources to shore up its finances, allowing it to grow further through acquisitions, one of the sources said.
On Monday, Lottomatica also announced a pro-forma earnings before interest, taxes, depreciation, and amortisation (EBIDTA) for 2022 of 518 million euros ($548.61 million).
