'Overwhelming' demand prompts bigger share sale by major Playtech investor

5th Mar 2014 13:15

Playtech has announced that Brickington Trading, which on Tuesday said it planned to sell around 29.3m shares in the group, had increased this to 45m on the back of 'overwhelming demand from existing and new investors'.The FTSE 250-listed online gaming software supplier said Brickington, which sold the shares at 725p via an accelerated book build, had reduced its stake to 33.6% and agreed not to sell any further shares for at least 12 months. Following the decision to enlarge the placing, Mor Weizer, the company's Chief Executive, and Ron Hoffman, its Chief Financial Officer, acquired 36,000 and 10,000 shares respectively.Playtech said it has also established an employee benefit trust in order to satisfy the vesting of existing and future option grants to Playtech group employees.Shares fell 8.97% to 741p by 13:30 Wednesday. NR