SBC News Voice of the Sports Betting Industry
Better Collective has outlined that as part of its initial public offering (IPO), by 8 June it plans to have released shares onto the Nasdaq Stockholm stock exchange.
The offering is going to be made to the public in Sweden and to institutional investors in Sweden and abroad.
Publishing its prospectus, the group detailed the price range for the company’s listing set at between 48 and 58 Swedish crowns. The range corresponds to a total value of all outstanding shares of approximately SEK 1.3 billion–1.6 billion before the offering.
Plans to move ahead with this initiative were originally disclosed in the middle of May, when the industry affiliate marketing group detailed that it seeks to diversify its shareholder base, improving its access to capital markets.
Adding that the funds it raises through its Stockholm IPO will be used to further the ongoing acquisition growth strategy employed by Better Collective as it looks to continue expanding the its multi-market affiliate network.
The group is anticipating it will raise SEK600m prior to the deduction of transaction costs, but should the over-allotment option be utilised, it would increase the total by a further SEK116m.
