Light & Wonder to transition to sole ASX listing
The company has announced its decision to delist from the Nasdaq by the end of November.
Australia.- Light & Wonder has announced its decision to transition to a sole Australian Securities Exchange (ASX) listing. It will delist from the Nasdaq by the end of November.
In its second quarter results report presentation, the company said the decision was intended to align its capital markets presence with long-term growth plans and its shareholder base. It launched on the ASX as a secondary listing in May 2023 and announced plans to drop its Nasdaq listing this February
Matt Wilson, president and chief executive officer of Light & Wonder, commented: “Following an extensive diligence process, I am excited to announce the board’s decision to transition to a sole ASX listing, which I believe will deliver tremendous shareholder value going forward. I have confidence in our strategy as we continue to execute to our long-term blueprint, which will continue to drive quality of earnings and sustainable value both operationally and financially.”
Jamie Odell, Light & Wonder board of directors chair, added: “Since we launched the secondary ASX listing back in May 2023, equity traded on the ASX now accounts for approximately 37% of our total equity. Our board has determined that moving to a sole primary ASX listing is in the best long-term interests of our shareholders.
“We offer investors a great opportunity to invest in a global growth company, with strong fundamentals, leading market positions in our core segments, growing margins, and strong recurring revenues and operating cash flows. We look forward to engaging with stakeholders throughout this process.”
For Q2, the company reported revenue of $809m, down 1 per cent year-over-year. Net income increased 16 per cent to $95m. Consolidated AEBITDA was $352m, up 7 per cent.
