Light & Wonder 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.
L&W will be consulting its shareholders as part of this evaluation. The L&W board 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, and giving the company access to new long-term Australian institutional investors that would complement its strong existing base of shareholders in the US 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,” said Jamie Odell, L&W executive chair.
“We believe they will appreciate the value and long-term potential of L&W’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 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.