Light & Wonder announced it is considering a secondary listing of its shares on Australia’s Securities Exchange (ASX).
It would be listed in addition to its primary Nasdaq listing. Light & Wonder’s board has identified a number “substantial potential advantages” that would result from the listing.
The group stated that these would include strengthening its presence in Australia, which is its core market for gaming, and allowing access to long-term institutional investors in Australia. This would add to its existing shareholders in Australia and the US.
Light & Wonder stated that it would consult its shareholders in the evaluation and added that it could not guarantee it would pursue a secondary list.
Jamie Odell, Light & Wonder’s executive chair, stated that the ASX was a premium market. It has a long history as a platform for international gaming companies. There is also a large pool of sophisticated investors who are knowledgeable about the market.
We believe they will recognize the long-term value and potential for L&W’s international strategy and business. We are looking forward to working with the market and current shareholders regarding a possible secondary listing.”
