Gamma Intermediate sells shares in Italy's Lottomatica through ABB, raises 497 million euros
09/05/2025 06:49
May 9 (Reuters) - Gamma Intermediate completed on Friday the sale of 26 million shares in the Italian betting company Lottomatica LTMC.MI through an accelerated book-building (ABB), raising 496.6 million euros ($557.4 million), the company said. Gamma Intermediate, who is Lottomatica's biggest shareholder and had launched the ABB late on Thursday, sold around 10.3% of Lottomatica share capital at a price of 19.10 euro per share, targeting institutional investors. Lottomatica had closed Thursday's trading session at a price of 20 euros per share. Gamma Intermediate has now a 21.3% stake in the betting company, remaining the main investors. ($1 = 0.8909 euros) (Reporting by Alberto Chiumento; Editing by Jacqueline Wong) ((Alberto.chiumento@thomsonreuters.com))