HSF Kramer Advised Light & Wonder, Inc. on the Australian Law Aspects of its Transition to Sole Standard ASX Listing
Global leading law firm Herbert Smith Freehills Kramer (HSF Kramer) is pleased to announce that it has advised Light
HSF Kramer Advised Light & Wonder, Inc. on the Australian Law Aspects of its Transition to Sole Standard ASX Listing
Global leading law firm Herbert Smith Freehills Kramer (HSF Kramer) is pleased to announce that it has advised Light & Wonder, Inc. (ASX: LNW) (Light & Wonder) on its transition to a sole standard listing on the ASX. Light & Wonder began trading on ASX as a standard listing at 10:00am on Friday, 14 November 2025.
Light & Wonder is a leading cross-platform global games company. Light & Wonder currently has a market capitalisation in excess of AUD$10.5 billion. This milestone follows Light & Wonder’s strategic decision to consolidate its trading liquidity and capital markets presence on the ASX, aligning with its long-term growth ambitions and shareholder base. The transition reflects Light & Wonder’s confidence in the depth and sophistication of the Australian market.
Michael Ziegelaar said: “We are delighted to have supported Light & Wonder on this landmark transaction, which marks a significant milestone for Light & Wonder and for the Australian equity capital markets.”
Alex Mackinnon said: “It was a pleasure to work with the Light & Wonder team on such a novel and significant transaction. This transaction is another example of our team’s market leading ECM work. It is the biggest new standard listing on ASX since the Telstra IPO and is unprecedented in terms of a large US company moving from a US exchange to the ASX. We congratulate Light & Wonder on this successful outcome and look forward to watching its ongoing success.”
Ling Zhu said: “We are proud to have built further on our strong relationship with Light & Wonder by supporting the business through this pivotal transition. The move of a business of Light & Wonder’s calibre to a sole ASX listing is exciting for Australian equity capital markets.”
The HSF Kramer team was led by corporate Michael Ziegelaar (Partner), Alexander Mackinnon (Partner), Carolyn Pugsley (Partner), and Ling Zhu (Senior Associate), Bianca Marcocci (Senior Associate), and Nick Gillies (Solicitor), Sarah Leong (Solicitor), Samuel Goodear (Solicitor).
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