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Novomatic prepares for IPO

Novomatic is preparing for one of the largest initial public offerings in years.

The Austrian gaming giant may officially announce its listing plans later this year, according to Reuters, and could be valued at up to €6bn (US$6.8bn) in a stock market listing.

The company is keen to take advantage of currently buoyant equity markets, but also wants to see how new gambling rules in Germany – one of its most important markets – play out.

Novomatic is preparing for the changes in the market, among other things, by raising money in the IPO to fund investments and acquisitions.

The company is working with Bank of America and Credit Suisse as global coordinators on the IPO with the help of UBS, UniCredit and Commerzbank as bookrunners. Skadden is acting as legal advisor and Macquarie as independent IPO advisor.

Novomatic is expected to post EBITDA of more than €600m this year, the sources said.

A valuation of roughly €6bn would make it one of the biggest-ever IPOs of an Austrian company.

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