| CATEGORY: AIM BULLETIN SECTOR: SOFTWARE & COMPUTER SERVICES |
Playtech raises £112m for acquisitions |
|
Tue 17 Jun 2008
|
LONDON (SHARECAST) - Online gambling software provider Playtech is to raise up to £112m through a placing to finance acquisitions.
The company said it will place about 21.6m shares at 520p each, a 5% discount to the closing price on 16 June. The placing shares amount to 10% of Playtech’s issued ordinary shares prior to the placing.
“We have demonstrated our ability to leverage acquisitions and believe this placing will provide the group with an extremely strong balance sheet that will allow it to take advantage of further opportunities that the current market offers,” chief executive Mor Wiezer said.
Playtech, whose software is used by companies offering casino and poker games over the internet, has seen a sharp rise in its share price since the beginning of the year. Last month it said revenue in April topped the monthly average for the first quarter of 2008 by more than 9%.
The company was hit hard by a ban on online gambling in the US in 2006, but has recovered by focusing its activities on other parts of the world.
|
|
| |
|
 |
Archived Stories |
 |
|
Front Page Stories |
|
|
