Light & Wonder, the powerful international supplier of games and technology for online and land-based casinos, has announced that it has obtained conditional approval for a secondary listing on the Australian Securities Exchange (ASX).
Official quotation of Light & Wonder Chess Depositary Interests (CDIs) officially kicked off on 22 May, with each CDI representing one fully paid share of common stock of the company.
Light & Wonder also explained that existing shareholders can retain their holding on the company’s primary listing on Nasdaq in the United States without having to do anything. However, the shareholders that want to transfer some of their holdings on the Australian Securities Exchange can do that with all of part of their shares.
Light & Wonder was previously known as Scientific Games before the company decided to change its brand and switch its focus more towards the digital side of the market. Before the rebranding, Scientific Games made a significant investment into its production capabilities by acquiring Lightning Box, an innovative digital content studio from Australia.
The company issued a statement in which it explained that its board of directors believed that “there are substantial potential benefits for the company and its shareholders in pursuing a secondary listing on the ASX, including enhancing the company’s profile in Australia, one of the leading markets for the company’s gaming business.”