Herbert Smith Freehills' Melbourne Corporate team has advised Light & Wonder, Inc. on its secondary listing on the ASX alongside the company’s primary Nasdaq listing.
Light & Wonder, which currently has a market capitalisation of approximately US$5.5 billion, is a leading cross-platform global games company, headquartered in Las Vegas, Nevada. It has approximately 6,000 employees and a presence in six continents.
The purpose of the secondary listing is to access investors complementary to Light & Wonder’s existing shareholder base through ASX, a premium market with a long track record as a platform for global gaming companies.
The Herbert Smith Freehills team comprised partners Michael Ziegelaar and Alex Mackinnon, with senior associate Ling Zhu.
Michael Ziegelaar said, “We are delighted to have assisted Light & Wonder with its listing on the ASX. We are confident that with its unique value proposition and innovative approach to gaming, Light & Wonder will be well received by the Australian market.”
Alex Mackinnon said, “It was a pleasure to work with the whole Light & Wonder team on their secondary listing on the ASX. We always enjoy bringing quality companies to market.”
Jim Sottile, Executive Vice President and Chief Legal Officer of Light & Wonder, said, “We are very excited by the opportunities the secondary listing creates for our company. We thoroughly enjoyed working with the Herbert Smith Freehills team on the listing.”
The deal is another example of Herbert Smith Freehills’ market-leading work in equity capital markets transactions. Herbert Smith Freehills is recognised as Australia’s leading law firm for IPOs by value, and we have acted on more IPOs by number since 1998 than any other top tier law firm (according to Refinitiv).