FL Entertainment to the exchange via SPAC
FL Entertainment (FLE) is making its appearance at Beursplein 5 today under a difficult market climate. The route to the stock exchange is via a merger with the SPAC Pegasus Entrepreneurs. FLE is a global entertainment company consisting of two global parts: 1) an international production house called Banijay Group; and 2) Betclic Everest Group, an online gambling and gaming company.
It is remarkable that the Dutch company Endemol (currently: Banijay Benelux), which itself briefly listed on the Amsterdam exchange from 1997, is returning to Damrak via its parent company. The IPO was successful FLE raised €645 million in total, and more than three times the amount that was raised by Pegasus Entrepreneurs. The extra capital comes mainly from befriended investors who supported the IPO under difficult circumstances.