SafeCharge raises $125m on IPO

SafeCharge raises $125m on IPO

Wednesday, April 2, 2014

SafeCharge, the payment service provider, has raised $125m from its initial public offering according to the Financial times newspaper. The figure is 25 percent more than it initially expected from the offering,

Shares in the company will begin trading today with a market capitalisation of $400m

Teddy Sagi, founder of online gaming software supplier Playtech and 90 percent shareholder in SafeCharge, will see his stake diluted to 66 percent, while David Avgi, founder and chief executive of SafeCharge, will retain his 2.9 percent stake.

“The proceeds of the placing will be deployed to accelerate the company’s growth strategy both through acquisition and organic means,” Avgi said.

Tags: 
Latest

Stakes verdict looms for Ladbrokes Coral

Playtech BGT Sports posts record SSBT turnover at Cheltenham

UKGC make clear their stance on skin betting and esports

ABB AGM - Expect radical measures from the review

Stakes verdict looms for Ladbrokes Coral

UKGC make clear their stance on skin betting and esports

Playtech BGT Sports posts record SSBT turnover at Cheltenham

Regulatory overhang haunts spread betting giant IG

Gaming Products & Services Directory

The essential directory for the gaming industry