Light & Wonder has received conditional approval to list on the Australian Securities Exchange.
L&W anticipates that the listing will come into effect today (18 May), and it will be allowed to appear on the official ASX list as a Foreign Exempt Listing.
The official quotation of L&W Chess depositary interests (CDIs), each CDI representing one fully-paid share of common stock, is scheduled to begin on 22 May.
L&W stated that existing shareholders who wish to keep their shares as L&W’s primary listed on Nasdaq, in the US, are not required take any action. Those who wish to convert all or part of their shares to CDIs can do so.
The group said that final approval of the ASX is required for the secondary listing and the official quotation. There are no guarantees as to the timing or completion.
L&W announced last week that its first-quarter revenue of 2023 increased by 17.1% on a year-on-year basis, aided by record performances from its igaming business and SciPlay social game businesses.
L&W’s gaming division was its main revenue source, and it grew by double digits across all of its segments.
The first quarter revenue was $670m compared to $572m for the same period last year. Gaming revenue was $419m. SciPlay brought in $186m. Igaming generated $65m.