Online gaming technology group Playtech announced its founder Teddy Sagi was selling 3 million worth of shares, equal to 10 percent of the group’s equity.
Sagi’s Brickington Trading Limited was selling about 29.3 million shares through a secondary offer, leaving it with a 39 percent stake in the company, Playtech said.
Playtech develops software for betting firms such as Paddy Power and Betfair.
Shares in the group have been trading at highs since it posted a rise in 2013 profits last month and the company said it would pay a 100 million pound special dividend, Reuters reports.
Playtech said the placing would allow for increased liquidity in the company’s stock.
