Prize draw operator Winvia plots London float
The London listings revival is gathering pace as prize draw operator Winvia today confirmed plans for an initial public offering (IPO) in the capital.
The Omaze rival is set to list on London’s junior AIM market, seeking to raise around £40m from the sale of new shares at an expected valuation of around £200m.
Winvia is the second largest prize draw operator in the UK by market share, according to government figures, and offers prizes such as cars, luxury watches, holidays, gadgets and properties via its Click and Best of the Best prize draw brands.
But the firm derives most of its revenue from its Romanian online gaming business, which accounts for around three-fifths of its pre-tax earnings.
Winvia said it intends to use the cash raised from a flotation to acquire smaller rival operators, which it said use “legacy third-party platforms that do not have the cash flow or financial means to fund the investments required to drive future growth”.
The company added that it is “already in discussions with several potential acquisition targets.”
Winvia posted revenue of £153m in 2024, with pre-tax profit of £7m, a rise of 59 per cent on the previous year.
‘Exciting milestone’
The plans add Winvia to a growing list of businesses that have confirmed plans to float in London since the beginning of October, following in the footsteps of the likes of tinned ham business Princes and London-based bank Shawbrook.
It comes after a prolonged IPO drought in London that saw the capital fall out of the top 20 for listings venues worldwide.
Mihai Manoila, Chief Executive Officer, said: “Announcing our intention to float on AIM marks an exciting milestone for Winvia Entertainment.
“Since inception we have built two successful well-established units, UK Prize Draw and Romanian Online Gaming, that have in turn resulted in Winvia Entertainment being a highly profitable, fast-growing and cash generative business with a track record of successful M&A.
“An IPO would allow us to accelerate our growth strategy, specifically on the UK Prize Draw business where we see significant opportunities, both organic and inorganic, in a fragmented and fast-growing market where we can implement our technology platform.”