MILAN, Oct 12 (Businesshala) – Italian gaming conglomerate Sisal said on Tuesday that it had filed for an initial public offering (IPO) to list its shares on the Milan Stock Exchange.
Sisal, which was bought by CVC Capital Partners in 2016, said the IPO would consist of shares sold by the private equity firm.
Two sources told Businesshala last month that the IPO is expected in the first quarter of next year.
Sisal, which gets most of its revenue from Italy, has expanded overseas, gaining concessions for its retail and online gaming business in Turkey, Morocco and Spain. The group is also in the running to run the UK National Lottery.
Sisal’s IPO filing follows the announcement of listing plans by make-up supplier Intercos, pointing to a revival of new listings on the Milan market, where only three companies have debuted in the main market so far this year.
Heating solutions group Ariston Thermo and Eni’s (ENI.MI) retail and renewables business unit also plans to go public in the next few months.
Deutsche Bank (DBKGn.DE) Equita Sim, JP Morgan (JPM.N) and Unicredit Corporate and Investment Banking (CRDI.MI) are the global coordinators in Sisal’s IPO, while Lazard (LAZ.N) is the company’s financial advisor.