scout gaming dfs targets december stockholm first north ipo

by 20.11.2017 0 comments

Industry daily fantasy sports (DFS) systems provider Scout Gaming has published its Nasdaq First North corporate prospectus, as the company seeks to widen its investment pool in order fund its aggressive future growth strategy.

Publishing its prospectus, Scout Gaming governance will initially offer 2.6 million new company shares on Stockholm’s Nasdaq First North market priced at SEK 23 per share, detailing a pre-listings valuation of SEK 225 million (€22 million).

Seeking to gain professional investors, Scout Gaming governance seeks to raise approximately SEK 60 million (€6 million) before issue costs.

Scout Gaming will utilise the IPO funds raised, to continue financing the firm’s resource capabilities, growth projects and entry into new markets.

In its corporate update, Scout Gaming details that a Swedish investment vehicle ‘Cornerstone Investors’, compromising of  Handelsbanken Fonder AB, Swedbank Robur Fonder AB, Novobis AB, Knutsson Holding AB, and Lars Wingefors AB, and NAXS AB, has committed to funding SEK 50 million in its initial offering (84% of IPO offer).

Updating stakeholders, Scout Gaming expects to begin trading as a Stockholm Nasdaq First North market enterprise on 6 December, trading under the corporate ticker of ‘SCOUT’.

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