The Canada-based online gambling company Intertain Group has revealed that it intends to go on with its intentions to get listed on the UK stock exchange. The plans came after the operator did not manage to get any satisfactory takeover offers.
The Chairman of Intertain Board of Directors Neil Goulden commented on the news, saying that the entire team of the company was excited about the great variety of opportunities that came along with the ordinary shared offering of ListCo. He also added that the company was aimed at getting fuller and more appropriate valuation with its listing at the London Stock Exchange, as this was one of the paramount priorities set by the operator. Mr. Goulden said that the company believes this would help it generate growth in the long term.
According to the official statement issued by Intertain, the company kept its “UK Strategic Initiatives” as well as the plans for their implementation. The Canadian betting operator has also considered to establish a new corporation which headquarters would be located in the UK. The new entity is also planned to be listed on the major market of the London Stock Exchange.
As revealed by Intertain, the company’s move to the UK comes after the operator had already received preliminary offers from highly-credible strategic parties, some of whom declared their desire to acquire the company as a whole, and some suggested to purchase only the Intertain’s “material business units”. The Canadian gaming operator revealed that it had negotiated over an eventual takeover with some of the parties, but it had not received any “definitive proposals”.
This led to Intertain decision to continue its existence as a standalone business under the lead of its new management team located in the UK. According to the company, this would help it greatly increase its potential value in the long term. The newly-formed corporation in London is planned to become the parent holding company.
The Canada-based company’s move to the UK is part of its strategy consolidate its presence on the market. The company expects to make the implementation of its UK Strategic Initiatives easier.
Intertain’s Chief Executive Officer Andrew McIver also commented on the company’s decision to get listed on the London Stock Exchange, saying that the his view was pointed towards the company’s core assets expansion. Mr. McIver shared his belief that the Canada-based company’s UK Strategic Initiatives would provide its entire team with a fantastic chance to further develop these core assets in order to increase the operator’s value.
- Author
Olivia Cole
