Teddy Sagi offloads 11.5% stake in Playtech

Brickington Trading Limited has opted to sell 36.5 million of ordinary shares in Playtech at a price of 924 pence (€10.52/$11.86) per share.

In a statement confirming the sale, Playtech said that Brickington, a wholly owned subsidiary of a trust of which Playtech's founder, Teddy Sagi, is ultimate beneficiary, had originally intended to offload 32 million ordinary shares.

However, due to what Playtech understands to be “strong investor demand”, Brickington agreed to increase the size of the placing to 36.5 million shares, which represents approximately 11.5% of the company.

Brickington will retain approximately 20.1 million ordinary shares in Playtech, which amounts to around 6.3% of the firm.

The placing is expected to settle on a T+2 basis on June 29.

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