Initial public offering interest "positive" for Better Collective

Initial public offering interest "positive" for Better Collective

Wednesday, June 13, 2018 Posted by Michael Lawson
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The firm is looking to fund its M&A strategy.

Better Collective has announced the outcome of the initial public offering for its shares and listing on Nasdaq Stockholm.

The offering was oversubscribed multiple times and attracted strong interest from both Swedish and international institutions as well as the general public in Sweden.

As part of its offering, the price per share in was set at SEK 54, corresponding to a market capitalisation of Better Collective of approximately SEK 2186 million after the offering.

Jesper Søgaard, CEO and Co-founder, told TotallyGaming.com: “The initial interest is a positive sign for us, as it reveals the appeal that we have secured with a larger group of investors who are interested in our industry.

“As we’ve outlined from the start, the purpose of listing has been to raise capital to fund our M&A strategy. So, the plan for growth in 2018 is through continuing to execute and integrate our M&A strategy, as well as developing and innovating our own products even further.”

Outlining the group’s future aspirations, Jens Bager, Chairman of the Board of Better Collective added: “I am impressed by the level of interest in subscription for shares in Better Collective.

“The company is well-positioned to leverage the many opportunities in a booming iGaming market, and the listing enables access to capital markets for us to continue the proactive acquisition strategy. With new shareholders on board, I believe Better Collective is in a great position to deliver on future goals.”

Totally Gaming says: Better Collective is one of the most recognisable names in the affiliate space, so it’s no real surprise that the firm has hit the ground running with its initial public offering. The real challenge now is maintaining that momentum and increasing brand presence even further.

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