International edition
September 21, 2020

Before the end of the year

Codere expects "favourable market conditions" to quote in the stock market

(Spain).- Codere, which had to delay its quotation to the market last July because the National Commission of the Stock Market (CNMV) did not approve its brochure, adds another conditioning factor: that the market circumstances are “favourable”.

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odere Group, Spanish multinacional dedicated to the private gaming business, intends to quote in the stock market before the end of the year, previous subscription of the brochure and the documentation of the public offer in the National Commission of the Stock Market (CNMV).

According to a spokesman of the company, the idea is to “registrate the brochure in the CNMV before September”. This quote to the market would contribute, according to the same source, to “consolidate a strong and stable growth line so that the company may face future challenges”.

Codere obtained, in the second quarter of the year, a net benefit of 2.6 million euros, compared to 10.2 million euros the previous year, while its collection was increased to 221 million euros, a 23.1 % more.

The firm, which in 2005 suspended the quote to the market until the purchase of Italian Operbingo was completed, has designed the investment bank Credit Suisse as exclusive global coordinator for the quotation of the company.

Nowadays, Codere capital belongs to José Antonio, Luis Javier and Encarnación Martínez Sampedro, which own the 87.9 %, other members of Martínez Sampedro family (3.9 %) and minority shareholders (8.2 %).

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