Greeces Intralot said it is considering listing its subsidiaries Inteltek in Turkey, which is 45 pct owned, and its Bulgarian unit Eurofootball, which is 49 pct owned, on their respective local stock exchanges in order to finance expansion into new markets, according to several local press reports.

The US Forbes magazine reported that Intralot intends to sell at least 10 pct in each subsidiary to raise about 100 mln eur from each flotation.

The Bulgarian IPO is planned for year-end 2006 and is expected to move faster because there are already local partners. In Turkey there may be delays in securing board and local authority permissions, the reports said.

Brokers said that these two subsidiaries will account for the bulk of Intralots profitability after the expiry of its risk management contract with local lottery operator OPAP in January 2007 for its fixed odds betting game Stihima.

Brokers added that they knew about Intralots intension to float both subsidiaries and see the move as positive because it will boost visibility, reveal asset value, increase probabilities for contract renewal in the case of Turkey, and for gaining new business in Bulgaria.

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