Kambi shares steady on market debut
Kambi Sports Solutions sees share price rise slightly after IPO on Stockholm's NASDAQ exchange yesterday
Kambi Sports Solutions share price rose nearly 18% on it s first day of trading in a steady public debut yesterday following its spin-off from Unibet.
After listing on Stockholm’s NASDAQ OMX First North exchange, Kambi’s share price opened at a SEK29.3 – higher than the SEK22 set by KPMG – before closing at SEK34.
The sportsbook supplier, which separated from Unibet last month, also confirmed its executive team shortly ahead of its flotation.
CEO Kristian Nylén heads a team including CFO David Kenyon, deputy CEO Erik Logdberg, COO Jonas Jansson, CIO Andreas Soneby, CTO Jonas Demnert and CCO Ian Freeman.
The Group has been split onto three separate divisions ““ EU licensed operations, non-EU licensed operations and service and support operations.
It is hoped the independence gained from the Unibet spin-off will help the supplier increase a customer base which already includes the likes of 888, Paf and Napoleon Games.
Last week Kambi signed its first deal since the spin-off, after it agreed a deal to provide an online sports betting platform for Casino Iveria, one of the largest land-based casinos in Georgia.
In addition, 32Red’s overhauled online sportsbook, which is being developed through a deal it signed with Kambi in April this year, is also due for an imminent launch.