Chinese lottery firm DJI Holdings set to launch £130m London float

 
Oliver Smith
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DJI operates, promotes and distributes lottery products to the Chinese market
Chinese lottery group DJI Holdings priced its initial public offering yesterday with an expected market valuation of £130.5m as the group looks to raise £15m from London’s Alternative Investment Market on Thursday.

DJI will place 9m shares during the float priced at 100p on admission raising £9m. It will also issue £6m of convertible loan notes as part of its debut on the market.

“In addition to raising the profile of the business internationally, the listing provides us with acquisition capital,” said DJI Holdings chief executive Darren Mercer.

“The placing will provide us with funds to support our planned growth and complete some recent acquisitions as well as the resources to invest in a newly signed key partnership with a government-owned partner. We saw substantial growth in our digital platform in the fourth quarter of 2013.”

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