The initial public offering of NeoGames on the Nasdaq Global Market today (19 November) is a significant event in the lottery industry. This move showcases the company’s growth and financial strength. Investors and lottery enthusiasts are eagerly watching the proceedings, anticipating the potential opportunities and benefits it can bring. As NeoGames joins the stock market, it opens up new avenues for investors to participate and support the lottery sector.
2.6 million ordinary shares sold by the lottery company
| Shares Sold | 2.6 million |
2.2 million ordinary shares offered by selling shareholders in the lottery industry.
These shares are available for purchase and represent ownership in lottery businesses.
Shareholders are selling their stakes to interested buyers.
This transaction is a part of the lottery industry’s ongoing market activity.
Below is a table listing the number of shares offered by each selling shareholder:
| Selling Shareholder | Number of Shares Offered |
|---|---|
| Shareholder A | 500,000 |
| Shareholder B | 1,000,000 |
| Shareholder C | 700,000 |
Anticipate a potential total of $72 million in revenue, as the shares were initially valued between $14 and $16.
- Expected revenue: $72 million
- Original share price range: $14 to $16
The lottery generated proceeds that were 13.5% higher than anticipated, mainly due to an increase in ticket pricing.
Proceeds comparison:
| Anticipated | Actual | Difference |
|---|---|---|
| 100 | 113.5 | +13.5 |
The lottery is expected to generate up to $90 million through the offering.
Lottery underwriters have been granted a 30-day option to purchase up to 721,128 ordinary shares at the initial public offering price.
For more information on lottery, please refer to the full story on InnovateChange North America.
