Lottotech moves to raise capital on Stock Exchange of Mauritius
The gaming major has announced the listing of 340 million ordinary shares on the Official List of the Stock Exchange of Mauritius. (Image: MBC)
Mauritius gaming major Lottotech’s growth story continues. The organiser of the National Lottery in Mauritius and Rodrigues has received the green signal for listing its shares on the local stock exchange.
In a communique on the SEM, Lottotech Ltd has announced the listing of 340 million ordinary shares on the Official List of the Stock Exchange of Mauritius (SEM).
Last year, in a statement issued on November 12, Lottotech had informed its shareholders and the general public of its intent to list on the SEM and mentioned that an application had been submitted to the stock exchange authorities towards its Initial Public Offering (IPO).
The official notice issued yesterday informs the public that the Listing Executive Committee of the SEM has approved the listing of 340 million of ordinary shares of no par value of Lottotech Ltd by way of an offer for sale at a price of Rs 10 per share.
This listing is, however, subject to Lottotech obtaining all relevant regulatory approvals before proceeding with the offer for sale.
The SEM and the Lottotech will publish respective communiqués to inform the market and the public in general of the modalities involved in the conduct of the offer for sale as soon as all relevant regulatory approvals related to the above offer for sale have been obtained by Lottotech.
Lottotech is a pioneer in the gaming sector in Mauritius and Rodrigues and is positioned as a leader due to its spirit of innovation and its values of integrity as well as its commitment to offer a perfectly transparent service to its players.
Under the supervision of the Gambling Regulatory Authority the amount collected in the latest, the 231st, edition for the Consolidated Fund of Mauritius is Rs 27.4 million.
The recent weekly statistics of Lottotech Ltd showed that Rs 4.03 billion worth of prizes had been distributed to 14,495,700 winners. Besides, 109 people had won the Loto.
Lottotech Ltd serves twin objectives of providing Mauritians with quality entertainment by legitimizing the demand for speculative sports, and also contributing to national causes such as health, education, sports and culture as revenues raised from lottery ticket sales are wisely spent on these social causes.
About Lottotech Ltd:
In May 2008, Lottotech Ltd collaborated with American gaming supplier, GTECH, to answer a tender by the State Investment Corportation (SIC) for the launch of a National Lottery in Mauritius and Rodrigues.
Lottotech, in partnership with SIC, officially obtained the operating license to run the National Lottery in April 2009.
The company is a member of the World Lottery Association, offering greater transparency in its business activities and becoming more reliable in the process.
As on date, Gamma – Civic Limited Group is the largest shareholder with 75% stake in Lottotech while SIC continues to hold stake, albeit a minority one, at 25%.