Novomatic to list on London Stock Exchange
Novomatic the Austrian gaming giant is looking to place around 20 to 30% of its stock in an IPO offering on the London stock exchange. According to reports the gaming firm have hired Macquarie the Australian investment bank to handle the process.
It is understood that Novomatic which has always been a privately owned business by founder Johann Graf and his family is worth $6.3 billion and would be the most expensive Austrian company to be listed.
The company employs some 28,000 people globally and produces slot machines, owns gaming venues and has shares in several gaming companies had revenues of nearly $4 billion in 2015.
It is expected the listing will take place at the end of 2017 and be valued in the region of $1.3 billion for its 20/30% sell off from its shares.