By Freya Berry
LONDON, March 5 The founder of online gaming
technology company Playtech is set to bank around 326
million pounds ($543.5 million) after ramping up the size of a
share sale to over 15 percent, the company said.
Playtech said on Wednesday that overwhelming demand from
existing and new investors led to Teddy Sagi's Brickington
Trading Limited increasing the share sale to 45 million shares
from 29.3 million, at 725 pence each. The shares closed at 814
pence on Tuesday.
The offer launched after stock markets closed on Tuesday and
books closed after just half an hour, a source familiar with the
matter said. Brickington now owns a 33.6 percent stake in
Playtech, and is under a 12-month lock-up period prohibiting
further sale of shares.
Canaccord Genuity, Shore Capital and UBS were joint
bookrunners on the sale.
Playtech develops software for gambling firms such as
Betfair and Paddy Power. Both Chief Executive
Mor Weizer and Chief Financial Officer Ron Hoffman acquired
shares in the enlarged placing, numbering 36,000 and 10,000
respectively, Playtech said.
A subsidiary of Playtech, Roxwell Investments Limited, also
acquired a 1.9 percent stake to provide future share options to
Shares in the company were last down almost 11 percent at