The founder of London listed gaming software giant playtech, Teddy Sagi has sold his final remaining 4.8% stake in the company he set up nearly two decades ago.
Recently, A statement has been released on Friday by Globe Invest, the sagi family office, confirmed a stake of around 15.2 million shares had been divested via the entrepreneur’s Bricklington Trading.
The sale, at a rate of around 446p a share, is worth $87.2m and signals the end of Sagi’s involvement in playtech, which he set up in 1999. After this, playtech stock rise slightly to 455p.
The share price remains low following July’s profit warning, which saw the company’s values tumble by around 30%. In Mid of 2017, playtech stock reached an all time high of more than £10, a share more than twice today’s value.