Evolution Gaming completes £225m IPO
Shares now trading on the Nasdaq First North Premier after "very strong" interest saw the offering substantially over subscribed
Evolution Gaming has completed an initial public offering (IPO) valuing the firm at £225m with shares in the live dealer specialist now trading on the Nasdaq First North Premier.
Evolution said the offering was substantially over subscribed, and attracted “very strong” interest from more than 7,000 Swedish and international investors as well as the general public.
The flotation consisted of 15,622,783 existing shares under the ticker EVO, amounting to 43.4% of the company, with a final offering price of £6.25 per share giving Evolution a market value of £225m.
A further 2,343,415 additional existing shares have been committed in the case of overallotment, which if exercised would see the full offering amount to 17,966,198 shares or 49.9% of the company.
“We are delighted to see that the interest in Evolution Gaming has been strong and that investors are confident in our strategy and our capacity to take the next step as a listed company,” Evolution founder and CEO Jens von Bahr, said.
“We welcome our new shareholders and look forward to continue our path of development and growth,” he added.
The firm recently revealed 2014 full-year revenues were 48.5m leading to EBITDA of 17m with an EBITDA margin of 35%.