Light & Wonder has been revealed to have been included on the Australian Stock Exchange. The listing is expected to take effect on May 18th.
L&W CDIs are scheduled to start trading on May 22nd. Each CDI is a fully funded share of common stocks. L&W announced that current shareholders have increased their holdings, as shares listed on NASDAQ’s main listing in the United States are not required to be planned. Shareholders can choose to convert all or part of their actions into CDIs.
The group stressed that the ASX must confirm the final listing and quotation for secondary listing.
The approval of the secondary listing was confirmed following L&W’s report that showed a 17.1% increase in annual profit for Q1 2023. The exceptional performance of L&W was attributed by the company to its social gaming companies that achieved record-breaking performances.
All of L&W’s business segments saw double-digit increases throughout the quarter. The gaming division continued to be the main profit generator for the company. The overall Q1 profit of $670m was higher than the $572m earned in the same period last year. Online gambling profits amounted at $419 million. SciPlay and iGaming each contributed $186 and $65 millions.
