Lottomatica, Italian gambling company backed by Apollo Global, is considering a Milan IPO this year that could raise about 1 billion dollars.
Lottomatica is working with banks including UniCredit SpA as it evaluates the listing, which could take place as soon as the second quarter. It's considering seeking a valuation of around 5 billion dollars debt, according to the people, who asked not to be identified because the information is private.
Bonds of Lottomatica rose Thursday as investors reacted to the news. Its €575 million bonds due July 2025 jumped as much as 1.6 cents on the euro to 97.6 cents, the highest since last April.
Europe's IPO market effectively shut last year as rising interest rates and heightened inflation pushed investors into risk-off mode. Some companies are now betting that pent-up demand for listings will help them get IPOs away in the months ahead.
The company hasn't set precise terms for the offering, and details of the share sale could change depending on market conditions.
18+ | Juegoseguro.es – Jugarbien.es
