Aequitas Research - Aristocrat Leisure Limited (ALL) ... Aristocrat Leisure Acquisition, Entitlement and Shortfall

Report

Aequitas Research

Sumeet Singh

EUR 95.41 For Business Accounts Only

Aristocrat Leisure Acquisition, Entitlement and Shortfall

Aristocrat Leisure aims to raise around US$1bn (A$1.3bn) via a renounceable entitlement offer to partly fund its acquisition of Playtech plc for a total enterprise value of around A$5bn.

Past deals undertaken by Aristocrat have generally done well and the stock has a good track record. In this note, we will talk about the deal dynamics and run the deal through our ECM framework.

18/10/2021 10 EN

Underlyings

Aristocrat Leisure Limited

Aristocrat Leisure is a provider of gaming solutions. Co. is engaged in the design, development and distribution of gaming content, platforms and systems. Co.'s products and services include electronic gaming machines and casino management systems. Co. also operates within the online social gaming and real money wager markets.

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AU000000ALL7 Australian Securities Exchange Australia

Playtech

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Playtech plc

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IM00B7S9G985 Frankfurt Stock Exchange Isle of Man

Provider

Aequitas Research

Aequitas Research is a leading ECM research firm with a focus on IPOs and placements/follow-on offerings across the Asia Pacific with deal size of over USD100m.

Since 2015, we have covered 400+ IPOs and 450+ placements with a hit rate of 73% and 65%, respectively. We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic analysis.

Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis. We also provide a more quant driven analysis on placement/follow-on offerings.

Markets that we cover include:
Hong Kong,
China ADRs,
India,
Japan,
Australia, and
ASEAN.

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Analysts

Sumeet Singh

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Aristocrat Leisure Acquisition, Entitlement and Shortfall

Lucror Analytics - Morning Views Europe

Lucror Analytics - Morning Views Europe

Aristocrat Leisure Limited: 1 director

Onewo Space-Tech Pre-IPO

Legend Biotech Follow-on Offering

Xtep International Placement

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