In Austria, the private owners of giant gambling technologies innovator Novomatic are reportedly working with global investments banking firm Macquarie Group Limited on an initial public offering that could value the firm at more than $6.3 billion.

According to a report from the Reuters news service, Gumpoldskirchen-based Novomatic, which is one of the world’s largest manufacturers and operators of gaming equipment and casino management systems, was established in 1980 and has approximately 28,000 employees in 50 countries. Still owned by the family of its billionaire founder, Johann Graf, the firm reported total annual revenues of $4.1 billion in 2015 while its earnings before interest, tax, depreciation and amortization for the first six months of last year hit almost $306 million.

Reuters reported that the float, which could happen as early as the third quarter of 2017, would most likely take place on the London Stock Exchange although Frankfurt is also an option with Novomatic shares expected to trade at about ten times their expected profit.

For its part, Sydney-based Macquarie Group Limited is reportedly acting as an advisor in the planned initial public offering, which could see Novomatic list from 20% to 30% of its stock, and will be helping to select several banks.

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