7th Sep 2018 08:28
LONDON (Alliance News) - Gambling software developer Playtech PLC said Friday it has netted around GBP176 million from the sale of its entire share holding of 11.4 million ordinary shares in spread betting company Plus500 Ltd at a price of 1,550 pence per share.
The sold stake represents 9.99% of Plus500's issued share capital. Proceeds from the sale will be used by Playtech for general corporate purposes and debt reduction, it said.
The share sale will not impact Playtech's entitlement to the interim dividend announced by Plus500 on August 13, equivalent to USD16 million.
On Thursday, Plus500's founders sold 9.4 million shares, or 8% holding, at 1,550.00 pence each for a total of GBP145.5 million. Plus500 is set to join the FTSE 250 index later in September following Wednesday's indices review
Shares in Playtech were trading 1.9% higher at 494.30 pence each on Friday morning. Plus500 shares were down 4.4% at 1,538.00p each.
Related Shares:
Plus500Playtech