Lottotech Listing: 85 Million Shares to the Public

7 years, 6 months ago - April 22, 2014
At June 11 Lottotech Ltd. will be listed on the official market of the Stock Exchange of Mauritius. In its listing document submitted to the SEM Friday, the company that operates the National Lottery, said that as of May 5, it will sell to the general public a total of 85 million shares.

This represents 25% of its capital. This block of shares (85 million) is one of 340 million ordinary shares that the group Gamma , which controls 75% of the capital of Lottotech , will rank them on the stock market. The share price of the company was fixed at Rs 10. The Board Lottotech Ltddecided that the 85 million shares will be offered to the general public, 20% (17 million shares) will be used retailers to the National Lottery, as well as directors and employees of the groupGamma and the State Investment Corporation (SIC). The latter benefit from a discount on the price set and the action to pay Rs 9.50.

Following the offer of sale, the shareholding structure of Lottotech Ltd will change slightly. Gamma , which held a 75% stake through four subsidiaries ( Gamma Leisure Ltd , Maurilot Investments Ltd , Natlot Investments Ltd and Glot Holdings (Mauritius) Ltd) , its participation will be reduced to 56.25%. The State Investment Corporation (SIC), which initially owned 25% stake, will it, its share down to 18.75%.

Lottotech has a turnover of Rs 3.9 billion and net profit of Rs 343.5 million for the 18 months ending 31 December 2013.

 

Text by lexpress.mu

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