• Playtech plans to raise ?175m in possible IPO

February 17, 2006 - Playtech, a software group that builds systems for online gaming operators, is poised to unveil plans for an Aim float that will value it at £550m and net £70m for Teddy Sagi, the Israeli entrepreneur, its largest shareholder. The group, which could announce the offering on Friday, is taking advantage of investor appetite for online gaming stocks by seeking a £175m placing on Aim. The float will be the biggest so far of 2006. Mr Sagi owns more than 50 per cent of Playtech, which is based in Estonia. Although the group is raising new money, Mr Sagi and Playtech's other investors will sell 25 per cent of their holdings in the IPO, which will leave Mr Sagi with a stake worth about £218m.

> Read the full story here Source: Ateonline.co.uk

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