Breaking: Teddy Sagi Sells 12% of Playtech Shares, Cashes in £330m

[kreslik.news]

Israeli billionaire Teddy Sagi has sold 12 percent of Playtech’s float at a secondary placement for 850 pence per share. The number of shares sold surpassed the initially announced 10% of the company’s float. Sagi is pocketing a total of £330 million ($412 million) from the sale.

Sagi’s company Brickington Trading Limited initially intended to offer 32.3 million shares of Playtech, but due to the strong investor demand that was shown at the offering, the size of the placement was increased to 38.7 million shares. The price at which the shares were sold is just about over 7 percent lower ... (read more)