09/07/2007 Queenco Leisure International Ltd to the Main Market
9 July 2007
The London Stock Exchange is pleased to welcome Queenco Leisure International Ltd to the Main Market.
Queenco Leisure International (“QLI”), an emerging markets casino developer and operator, runs and manages two of Greece’s nine licensed casinos, in addition to Casino Palace in the centre of Bucharest and the newly opened Casino Beograd in Belgrade. QLI’s largest operation is Club Hotel Casino Loutraki, and the company also owns Casino Rodos, the only casino on the island of Rhodes, and Casino Palace in Romania, located in the centre of Bucharest. On 30 June, the company opened Casino Beograd in the city of Belgrade.
QLI have admitted Global Depositary Receipts (GDRs) to the International Order Book. As part of the IPO QLI plan to raise €111 million at an offer price of €14 per GDR, implying a market capitalisation of €505 million. The proceeds from the offering will be used to finance new projects and the planned expansion of its existing casinos. QLI is currently pursuing a number of new projects in Prague, Romania, Bulgaria and Cambodia.
Dror Mizeretz, Chief Executive Officer of Queenco Leisure, said:
“We have had an excellent response to the Offer from a wide range of well known institutions within the UK, Europe and the United States, who have joined our shareholder register. The capital raised will aid the next stage in Queenco Leisure’s evolution, as we continue to build our existing operations in Greece, Romania and Serbia and expand into new emerging markets such as the Czech Republic and Bulgaria.”
ING Bank N.V., London Branch is acting as sole global Co-ordinator, sole bookrunner and manager to the group in connection with the offer, Norton Rose are English legal advisors, Deloitte and Touche are reporting accountants and Cardew Group are the Financial PR advisers.