Online gaming software company Playtech is aiming to raise £100m by issuing 46.5 million shares at a 2.5% discount on yesterday’s closing price in London. The world’s biggest provider of online gambling software said it would raise the money in the discounted offering to finance acquisition opportunities and investments in new joint ventures.
The placement of about 46.5 million shares would be priced at 215 pence each, representing a 2.5 percent discount to the stock’s closing market price on Tuesday, Playtech said.
Billionaire Israeli founder Teddy Sagi holds a massive 40% stake and said it had identified a number of acquisition opportunities in regards to expanding its existing technology and product offerings.
The Estonia-based company operates a joint venture with Britain’s biggest bookmaker William Hill and provides software to Paddy Power, PartyGaming and Gala Coral.
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