Playtech aims to raise £100 million in near future
Playtech is one of the most recognised names in the world on online gambling; it rose to success thanks to its superb achievements in the gambling software development market and doesn't seem to be showing any signs of slowing down...
The gaming software giant has just announced ambitious new plans to raise a massive £100 million in order to fund investment opportunities, as well finance new projects that the company is hoping to undertake – Playtech aims to achieve this lofty total with the help of a fully underwritten share placement scheme.
As a result of their new plans, Playtech have just placed over 46 million shares on the market, at a price of £2.15 each; the shares have been put forward using investment firm Brickington Trading Limited – Brickington Trading Limited are already a large shareholder in Playtech, holding 40% of the company.
The shares which have been placed on the market are thought to represent around 19% of the company's total share capital; this has meant that the scheme has been viewed as a somewhat risky strategy by some industry analysts.
Playtech have recently commented on their latest scheme, with Chief Executive Officer Mor Weizener saying: “After consultation with our major institutional shareholders, I am delighted with the support we have been given,
“On the basis that the placing is approved by shareholders, these funds will deliver us immediate firepower for the strategic acquisitions and joint ventures we see before us.
“As part of this exercise, the board has re-confirmed its commitment to move to the main market and announced a revised dividend policy. We continue to enjoy strong current trading and, when taken all together, these actions will take Playtech to the next level.” he added.
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