Playtech founder Teddy Sagi yesterday announced plans to sell off 10 per cent of his holding in the software group, with ft.com reporting today that the figure has since risen to 15 per cent.
After the close of the markets on Tuesday it was announced that Sagi would sell 29.3m shares in Playtech at 725p each. He held 49 per cent of the shares at the time. Only last week Playtech announced the highest ever payout to shareholders.
Today, ft.com reported that “bookrunners had persuaded him to increase the stake sale to 45m shares,” equivalent to 15.4 per cent of his stake and worth around £326m.
Sagi founded Playtech in 1999 and floated it on the London Stock Exchange in 2006 at 257p a share. On Tuesday night the share price stood at 814p.
Sagi will remain the largest single shareholder in the company through his investment company Brickington. The second largest shareholder is investment company BlackRock with 5.4 per cent.
