Online gaming supplier Playtech announced that Teddy Sagi, the London-based Israeli billionaire who was a co-founder of the company, has sold 12 percent of his stake in the company.
The November 29 announcement also noted Brickington Trading Limited’s proposal to sell approximately 32.3 million ordinary shares in the company, and that Playtech has been notified that Brickington has sold 38.7 million ordinary shares at a price of 850 pence per share.
The company said that due to strong investor demand, Brickington agreed with the joint Bookrunners to increase the size of the placing to 38.7 million shares, representing 12 percent of the issued share capital of the company. The placing was expected to settle on a T+2 basis on December 2. The Company is not a party to the placing, and will not receive any proceeds from the placing.
Brickington has agreed not to dispose of any further Playtech shares for a period of at least 180 days, subject to customary exemptions.
The Placing was conducted via an accelerated book build through UBS Limited, Canaccord Genuity Limited and Credit Suisse Securities Limited. Shore Capital Stockbrokers Limited acted as co-lead manager in connection with the placing.
