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Listing of SafeCharge on the London Stock Exchange

Payment service provider SafeCharge has confirmed that it plans to raise around $100 million (€71.8 million) safechargeby listing shares on London’s junior alternative investment market stock exchange, according to the Reuters news agency.

Last week, iGaming Business reported that Teddy Sagi, founder of online gaming software supplier Playtech and 90% shareholder in SafeCharge, announced his intention to float the payment provider.

SafeCharge is expected to have a market value of between £210-230 million after the sale of new shares, with plans to have a free float of at least 25% of its capital.

David Avgi, chief executive officer of SafeCharge, said: “We're very excited by the prospect of listing in London, which will improve the group's profile amongst prospective clients and should enable us to grow both organically and through acquisitions.”

SafeCharge said that Sagi would not sell any shares and would retain a diluted stake of approximately 63% after the listing.

Sagi also recently opted to sell 10% of his stake in Playtech, as reported by iGaming Business.

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