SBC News mybet targets €5 million investment with new issue of convertible bond

mybet targets €5 million investment with new issue of convertible bond

zenoFrankfurt Xetra listed bookmaker mybet Holdings SE has issued a market statement detailing that it will look to raise €5 million (£3.5 million) in funds through the issue of new convertible bond.

The funds will be used expand mybet’s existing marketing services and further the development of the operator’s new IT platform.

mybet governance who issued a 2015 profit warning in September are currently implementing a new “product and customer first strategy” which will see an overhaul of the operators product range and operational infrastructure.

Detailing terms of the bond, mybet stated that it would be issued by December with a five year clause. The convertible bond has been attached with an interest rate of 6.25% on its nominal value.

The convertible bond is to be collateralised by the pledging of shares of pferdewetten.de, which is owned by mybet.

For its 2015 performance to date, mybet Holdings has posted net losses of -€4.4 million (£3.10 million), the firm cited a downturn in player activity impacting its betting operations.

Check Also

bet-at-home

Bet-at-home readies for EveryMatrix makeover as year losses mount to €1.5m

Bet-at-home AG has declared a consolidated net loss of €1.5m for its full-year 2023 results …

bet-at-home

bet-at-home prioritises home market growth following dire 2022  

bet-at-home AG has declared a full-year corporate loss of €585,000, due to the extensive streamlining …

SBC News bet-at-home expects €11m income reward for discontinued Austrian business

bet-at-home expects €11m income reward for discontinued Austrian business

Embattled bet-at-home AG has announced that it expects to recoup €11.4m in attributable income related …