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Dionic Turns To Institutional Investors

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Dionic administration launches the entry of investment funds in the share capital and the implementation of acquisitions of companies that operate in strategic sectors for the group. 

According to sources, these funds have expressed interest to invest in new ventures of the listed company, focusing on entering the gambling market. 

The company has already paved the way by approving the issuance of a 2-year, convertible bond loan of €15 million, which is not negotiable and will be issued with abolishment of pre-emption rights. The issuing of bond loan will take place until late Q1 2012, and will be available through private positioning.

Company sources note that the procedures are underway, but the payment of funds should be verified, given the uncertainty. On ASE board, expectations are high with the share price tripled during last 10 months, hitting a high of €1.49, while capitalization reached €40 million. 

In any case, Dionic plans to operate in the gambling market in the context of regulation promoted by the government. The focus is on both online betting and VLTs. 

Group’s intention is to operate with its own brand name, while it is talks for the selection of a platform provider. Regarding VLTs, Dionic plans to operate up to 1,500 terminals, which would need a increase funding through bond loan and other participations.

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