Mauritius Lottery IPO


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Mauritius Lottery IPO

  1. 1. Mauritius: Lottotech’s success and shares made available to all stakeholders! In view of its listing on Sto Monday, 28 April 2014 21:45 Lottotech’s success and shares made available to all stakeholders! In view of its listing on Stock Exchange of Mauritius Lottotech Ltd offers for Sale of up to 85,000,000 ordinary shares at Rs.10 as of May 5th 2014 April 22, 2014: Lottotech, the operator of the Mauritius National Lottery, announced today that it was offering up to 25% of ordinary shares to individual and institutional private investors. As of May 5 th 2014, up to 85 000 000 ordinary shares will be offered for sale to the public. In view of this major step towards democratisation and shared ownership, the trading on the official list of the Stock Exchange of Mauritius is scheduled to start on June 11 th 2014. Addressing a media conference Lottotech’s CEO Michelle Carinci provided details and the rationale of this major strategic step for the Lottery operator of Mauritius and Rodrigues. Lottotech currently offers two lottery games namely the weekly Loto game and Quick Win games (also known as scratch cards). The combined player participation rate for Loto and Qui ck Win games is about 75% of the adult population, with an almost equal participation of men and women ( source: Ipsos Reid, 2013 ). Games offered by the Company provide its customers with a unique experience of “ play small, win big ”. Lottotech’s distribution network covers the whole of Mauritius as well as Rodrigues comprising of 895 retailers as at 31 st December 2013. The company benefits from world-class knowhow and expertise through an exclusive technology partnership with GTECH, a leading lottery operator and provider of technology solutions to regulated gaming markets worldwide. 1 / 3
  2. 2. Mauritius: Lottotech’s success and shares made available to all stakeholders! In view of its listing on Stoc Monday, 28 April 2014 21:45 A seasoned world-class lottery professional having served over 3 decades in the Lottery Industry, named to its Hall of Fame in 2006 Michelle Carinci joined Lottotech as CEO in 2012 states “The outlook for growth in Mauritius is very positive as Mauritius is a vibrant gaming market, Mauritians like to play . The success of Lottotech in four short years combined with its strong brand, high participation rate and experienced management team is a solid foundation in which to build its future growth strategy. ” Moreover Carinci added that a listing of Lottotech will enhance the status of the Company and provide greater flexibility for the planning and financing of the future growth of the Company. In a way, Lottotech has become part of the culture and a caring and respected national institution. Lottotech contributes significantly to the Consolidated Fund of the Government of Mauritius. As per the GRA Act, any money paid into the Government Consolidated Fund is used to finance the implementation of projects relating to community development, the promotion of education, health, sports and culture and for reimbursement of public debt of the Government of Mauritius. “ Since the launch of the Mauritius National Lottery to 31 December 2013, Lottotech has contributed over MUR2.5bn directly to the Consolidated Fund. Lottotech also contributes to the National Solidarity Fund from the unclaimed prizes. Over the same period, the Company has contributed over MUR175m to this fund, which is used to improve the lives of the most vulnerable Mauritian citizens and we are very proud of this as a company ,” Carinci said before detailing the schedule leading to the listing as follows: Opening of Offer for Sale 5 May 2014 Closing of Offer for Sale 16 May 2014 2 / 3
  3. 3. Mauritius: Lottotech’s success and shares made available to all stakeholders! In view of its listing on Stoc Monday, 28 April 2014 21:45 Allotment of fully-paid ordinary shares to shareholders 9 June 2014 Commencement of trading of ordinary shares on the Official List of the Stock Exchange of Mauritius Ltd 11 June 2014 Introducing the media briefing Carl Ah Teck, Chairman of the Board of Lottotech, said “It has always been our vision, that the people of Mauritius and Rodrigues should become shareholders in Lottotech and participate in the success and profits of the company going forward. Lottotech is an exciting journey that started four years ago, and, we are all proud to be part of it. Today, we are here to announce yet another major milestone in the life of Lottotech. Over a period of four years, Lottotech has become a caring and responsible, National Institution which can be trusted, and its brand “la Loterie Nationale” is fun and entertaining. Over the last four years Lottotech has demonstrated that it is credible, transparent and trustworthy company .”   3 / 3