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ΙΝΤΡΑΛΟΤ Α.Ε. (ΚΟ)
The offering price is set at €1.10 per share – The company raises €429 million
Intralot will ultimately raise €429 million through the issuance of 390 million shares in its capital increase, which saw immense demand, with subscriptions reaching €1.3 billion.
The offering price of the shares will be €1.10.
Over 80 foreign investment funds and more than 3,500 individual investors participated in the capital increase.
Of the 390 million new shares, foreign investors will acquire 290 million, while domestic investors will receive the remaining 110 million shares. Greek investors also benefit from a preferential subscription right.
Notable foreign investors participating in the offering include funds such as Discovery, Millennium, Amber Point 72, HPF, Orasis, Norges Bank, Moore, Blackstone, Moon, Verition, Praude, Amundi, and TT International.
Acquisition of Bally's
Of the €429 million raised, €300 million will be allocated to completing Intralot’s acquisition of Bally's. This amount will cover the cash portion of the purchase price through Intralot's fully-owned subsidiary, Intralot Holdings UK Ltd., which will be funded via the capital increase, along with related expenses and fees.
An additional €90 million will be used to repay existing company debt, while the remaining €39 million will be allocated to working capital needs for Intralot over the next 12 months.
This capital increase marks the final step in Intralot's acquisition of Bally's, which will create a major entity listed on the stock exchange.
The combined entity is expected to have a business value of €3.8 billion, with a market capitalization of €2.2 billion at current levels.
Based on the pro-forma results for the last twelve months (July 2024 - June 2025), the combined companies are projected to generate:
- Revenue of €1,096 billion (Intralot alone generated €376 million in 2024)
- EBITDA of €436 million, excluding synergies (Intralot's contribution: €132 million)
- EBITDA of €478 million, including synergies
- Net profits of approximately €180 million (pro-forma, including synergies), compared to Intralot’s net profit of just €5 million in 2024
- Earnings per share (EPS) are expected to be €0.10 per share
Nikos Karoutzos
nkaroutzos@gmail.com
www.bankingnews.gr
The offering price of the shares will be €1.10.
Over 80 foreign investment funds and more than 3,500 individual investors participated in the capital increase.
Of the 390 million new shares, foreign investors will acquire 290 million, while domestic investors will receive the remaining 110 million shares. Greek investors also benefit from a preferential subscription right.
Notable foreign investors participating in the offering include funds such as Discovery, Millennium, Amber Point 72, HPF, Orasis, Norges Bank, Moore, Blackstone, Moon, Verition, Praude, Amundi, and TT International.
Acquisition of Bally's
Of the €429 million raised, €300 million will be allocated to completing Intralot’s acquisition of Bally's. This amount will cover the cash portion of the purchase price through Intralot's fully-owned subsidiary, Intralot Holdings UK Ltd., which will be funded via the capital increase, along with related expenses and fees.
An additional €90 million will be used to repay existing company debt, while the remaining €39 million will be allocated to working capital needs for Intralot over the next 12 months.
This capital increase marks the final step in Intralot's acquisition of Bally's, which will create a major entity listed on the stock exchange.
The combined entity is expected to have a business value of €3.8 billion, with a market capitalization of €2.2 billion at current levels.
Based on the pro-forma results for the last twelve months (July 2024 - June 2025), the combined companies are projected to generate:
- Revenue of €1,096 billion (Intralot alone generated €376 million in 2024)
- EBITDA of €436 million, excluding synergies (Intralot's contribution: €132 million)
- EBITDA of €478 million, including synergies
- Net profits of approximately €180 million (pro-forma, including synergies), compared to Intralot’s net profit of just €5 million in 2024
- Earnings per share (EPS) are expected to be €0.10 per share
Nikos Karoutzos
nkaroutzos@gmail.com
www.bankingnews.gr
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