According to the report by the Axios website, Playtika will continue to be traded on Nasdaq.
Private equity firm Joffre Capital is set to buy a substantial stake in mobile games developer Playtika (Nasdaq: PLTK), at a premium amounting to over 40% on the closing price of the company’s shares yesterday, according to the Axios website.
The shares will be bought from Playtika’s Chinese controlling shareholder, a corporation headed by Yuzhu Shi, at a valuation of $8.7 billion. The Israeli games company will continue to be traded on Nasdaq.
Following the report, Playtika’s share price jumped 32% in after-hours trading.
In February this year, Playtika announced that it was examining different strategies for maximizing its value to shareholders. “As part of the process, the Board intends to consider a full range of strategic alternatives, which could include a sale of the company or other possible transactions,” the announcement said.
Playtika’s share price fell 45% between its flotation in January 2021 and yesterday’s report, to a price giving the company a market cap of $6 billion, which compares with $11 billion in the flotation.
Published by Globes, Israel business news – en.globes.co.il – on June 28, 2022.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.
Playtika Nasdaq IPO
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