Swedish online casino operator undertakes book-building exercise

After completing the purchase of Danish rival Dansk Underholdning Limited for an initial consideration of $9.79 million in April, Swedish online casino operator Mr Green and Company AB is set for further growth after it announced the listing of approximately five million new shares.

Stockholm-listed Mr Green and Company AB, which re-launched its long-dormant Garbo.com skin last week, revealed that the ten-hour book-building exercise open to local and international investors was coordinated by Carnegie Investment Bank and began at 5:30pm local time yesterday.

Established in 2007, Mr Green and Company AB also operates the online gambling domain MrGreen.com and holds licenses from authorities in the nations of the United Kingdom, Malta and Italy while its recent purchase of Dansk Underholdning Limited saw its portfolio gain brands including BingoSlottet.dk, BingoSjov.dk and BalletBingo.dk.

In addition to issuing the new shares, the online casino firm explained that current shareholders including board members Henrik Bergquist and Tommy Trollborg had divested about one million shares while any proceeds are set to be used to “finance and further facilitate expansion organically as well as through acquisitions”.

“Mr Green and Company AB’s strong brand, broad European presence and focus on “green gaming” make the company well positioned to play an active role in the consolidation of the online gaming industry,” read a statement from Mr Green and Company AB. “The directed new share issue is subject to a resolution by the board of directors of Mr Green and Company AB following closing of the book-building procedure to issue new shares by virtue of the authorization given by the annual general meeting on May 16, 2017.”