IZI Finance plc, the financing arm of Malta-based IZIGROUP, has listed its second bond issue on the Official List of the Malta Stock Exchange, raising up to €30 million to fund the group’s international expansion strategy.
The bonds — 5.5% unsecured instruments maturing in 2036 — were listed on 13 April 2026, following an application period that ran from 3 to 24 March 2026. The issue was priced at par, with a nominal value of €100 per bond and a minimum subscription of €2,000. Interest is paid annually on 2 April, with the first payment due in 2027.
Of the approximately €29.5 million in net proceeds, €23 million is earmarked for international expansion opportunities, €4 million to refinance an existing Bank of Valletta facility, and the remaining €2.5 million for general corporate purposes.
Financial backdrop
The listing follows a strong set of interim results for the six months to December 2025. IZIGROUP reported turnover of €561 million for the period, up 25% year-on-year. Gaming revenues reached €53.9 million, an increase of €8.6 million or 19% over the prior-year period. EBITDA came in at €18 million, up 35% year-on-year.
The group is projecting turnover to surpass €1 billion in FY2026, with gross gaming revenues expected to exceed €100 million for the first time.
The first IZI Finance plc bond — a €30 million 4.25% unsecured issue — was listed on the Malta Stock Exchange in March 2022 and matures in 2029. Existing holders of that instrument were offered priority access in the second issuance.
International ambitions
IZIGROUP’s domestic portfolio spans the National Lottery of Malta, the Dragonara Casino licence, sports betting under the IZIBET brand, and a digital gaming arm. The group holds certifications from the World Lottery Association and European Lotteries, and is a member of ULIS, the sports integrity body.
International concession-based operations — specifically in lottery and land-based casino — are the stated focus for capital deployment. The group’s prospectus, dated 26 February 2026, indicates that several expansion opportunities had already been identified before the bond was brought to market.
We remain committed to delivering sustainable and long-term growth, supported by prudent financial management and robust investments, that strengthen our operating ecosystem.
— Johann Schembri, founder and CEO, IZI Group
The bell-ringing ceremony at the Malta Stock Exchange marking the listing took place on 9 April 2026.
IZIGROUP’s second bond issue places it among a cluster of Maltese corporate issuers that have tapped the local exchange in early 2026, including MM Triton Malta Finance plc, which listed a €45 million secured bond on the same date. Whether the group secures a concession outside Malta — and in which jurisdiction — will determine whether the capital raised translates into the revenue diversification the prospectus projects.
Source: IZI Finance plc / Malta Stock Exchange
