Cyberscan completes £91m IPO
Article Date: Jul 12 2005
Cyberscan, a provider of downloadable server-based systems to the gaming industry, has joined AIM with a £91.3 million price tag following a £34 million Collins Stewart-sponsored placing.
Priced at 611p, the float raked in £22.6 million of new money - £34 million in total, including £11.4 million raised for existing investors.
Founder and chief executive Jean-Marie Gatto, previously CEO for the French National Lottery's research and development company, says the float funds will help continue the roll-out of the group's interactive video lottery terminals (IVTs) in the Czech Republic, kickstart trials in casinos, and exploit the fixed-odd betting terminal market in the UK.
Cyberscan has an IVT supply deal with the Czech Republic's largest lottery operator, SAZKA. And through its Cyberview subsidiary, the company is also the leading supplier of fixed odds betting terminals to UK bookmakers including Ladbrokes and William Hill. Fixed-odds betting terminals account for over £15 billion of bookmakers' turnover, and Cyberview is sole supplier to Ladbrokes, which has 6,000 terminals in its shops.
At the close of first day's dealings, Cyberscan shares were trading at 707.5p.
*Image courtesy of VisMedia
