Light & Wonder Incorporated today announced that it is evaluating a potential secondary listing of its shares on the Australian Securities Exchange (ASX) in addition to the Company’s existing primary Nasdaq listing. Light & Wonder Incorporated will be consulting its shareholders as part of this evaluation.
The Light & Wonder Incorporated Board of Directors has considered a range of options to accelerate the company’s strategic journey as a global leader in cross-platform games and entertainment and enhance overall shareholder value. The board sees substantial potential benefits for the company and its shareholders in pursuing a secondary listing on the ASX, including:
Enhancing the company’s profile in Australia, one of the leading markets for the company’s gaming business; and
Giving the company access to new long-term Australian institutional investors that would complement its strong existing base of shareholders in the United States and Australia.
“The ASX is a premium market with a long track record as a platform for global gaming companies and a deep and liquid pool of sophisticated investors and market participants who have a strong understanding of the gaming business,” Jamie Odell, Executive Chair of the Light & Wonder Incorporated Board of Directors, said. “We believe they will appreciate the value and long-term potential of Light & Wonder Incorporated’s broad international business and strategy. We look forward to engaging with the market and our current shareholders on a potential secondary listing.”
Light & Wonder Incorporated intends to update the market only once its evaluation is complete and it has made a decision whether to proceed with an ASX secondary listing. There is no assurance that the company will decide to pursue such a secondary listing.
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