Greek lottery supplier Intralot SA has introduced new voting shares alongside its previously announced plans for capital increase.
Launched on Monday (October 6), Intralot opened a dual offer of new ordinary voting shares and share capital increase. Shares have a value of €0.30 ($0.35) each, and the offering price is capped at €1.27 per share.
According to the official filing, the number of offer shares launched is expected to be between 350 million and 450 million. The Athens-based company distributed them in Greece for a three-day offering that closed on October 3, and around the world through a private placement process.
To that end, Deutsche Bank, Goldman Sachs and Jefferies have been appointed as Joint Global Coordinators and Bookrunners, and Barclays as Senior Bookrunner. Alpha Bank and Piraeus Bank served as co-managers in Greece.
The voting shares come after Intralot announced last month that the company had raised €660 million in long-term financing, funds that went towards the €2.7 billion acquisition of Bally’s International Interactive. The finance deal was made up of a €460 million six-year senior secured loan from institutional lenders and €200 million in amortisation financing from Greek banks.
Once the Bally’s acquisition goes through, Intralot will be the majority shareholder in Bally’s International Interactive. That, alongside other financial moves, has seen the company’s balance sheet improve throughout the year, with net debt falling by €35 million when compared to 2024.
While revenue stagnated at the beginning of September, staying level is strong progress for the company after several years of increasing debt. The results of this latest introduction of voting shares, alongside its robust financing plan, will go a long way to raising confidence among investors, if it proves successful.
The Bally’s acquisition marked one of the largest industry mergers in recent years and could establish Intralot as a key market player rapidly.
Featured image: Intralot
