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12% - Playtech founder sells shares

Founder Teddy Sagi banks £330m, still owns 22%
Thursday 08 Dec 2016 Author: William Cain
Story In Numbers

Teddy Sagi, founder of gaming technology outfit Playtech (PTEC), banked £330m after selling a 12% stake in the gaming technology specialist.

Investment bank UBS conducted the sale which initially aimed to find buyers for 10% of the company’s shares. UBS said ‘strong demand’ from institutional investors helped Sagi secure his 12% disposal though it’s worth noting the deal completed at 850p a share, an 8% discount to the previous day’s closing price. Sagi still owns 22% of the business. (WC)

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08 Dec 2016

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