Playtech Cashes Out 176m on Plus500 Stake Finance Magnates
Playtech Cashes Out £176m on Plus500 Stake: The Full Story
Playtech announced a resale of shares in Plus500. The gaming and money technology giant held a 9. 99% stake in the retail brokerage since 2015, when it tried to acquire the company.
However, the attempt failed. At the very least, Plus500's 114 million promotion earned Playtech 176 million pounds ($227 million). The gaming and money technology giant sold its shares at 1. 550 cents for its regular promotion.
According to an official statement, the proceeds from the exercise will be used for joint corporate objectives and debt reduction. Playtech remains entitled to an interim dividend announced by Plus500's management, which will bring the company $16 million.
The Conclusion to a Long Story
If you need to see the balance of power in the retail brokerage industry, this situation will worry you. Long-time Finance Magnates followers will remember that Playtech came close to acquiring Plus500 in 2015.
It all started when The Times reported that the retail brokerage had heard something from the FCA. Plus500's promotion quickly died down and within days the company had lost more than 50% of its value. At that point, the broker's market value was around £430 million, or $700 million.
Playtech saw value in the company and went ahead to acquire it in June 2015. At the time, institutional traders from Odey Asset Management were strongly opposed to the path taken by the other shareholders.
Diverging Strategies
While Plus500 was active in the markets and attracting new buyers through its cool mobile application, Playtech stuck to its guns on acquiring Markets. com itself. After a few years on the sidelines, the company decided to enter the institutional sector of the industry.
The company formed the Tradetech team after acquiring CFH Group in late 2016 and Alpha in late 2017. The rise of the company's gambling business over the years has led Playtech to become part of the FTSE250, where Plus500 is now based.
In 2014, before the company entered the economic market, Playtech's profits were 457 million euros. At the time, its net profit was 141 million euros. Playtech's commercial entry changed the company's profit structure, resulting in a profit of 80 million euros in 2017.
Compared to the Play Tech Game Case, the status of the Gam e-giant cash B2B and B2C category is relatively small. As of 2017, the company's total interest was 870 billion euros.
In other words, the contribution of financial separation is within 10 % of the company's relief. PlayTech is still and in the future, mainly a game company and a financial direction.
Plus500's Success Story
Comparing PlayTech and Plus500, you can see that the difference in business strategy has led to a difference in evaluation.
The profits and profits of PLUS500 have not been regarded for many years. However, this did not hinder the increase in retail brokers, which would be higher than that of companies specializing in games and financial development.
According to Odeia Set Management, Play Tech's stock price has reached a considerable level today. On Wednesday, Asset Management Company announced that it will acquire 5 % of the promotion.
The statistics and coefficients of P / E companies in the game and the economic trading industry are usually compared as branches. At least in real time, it's not clear why Plus500 assigns a much significant significance than PlayTech. Similar imbalance lasts for a long time.
This afternoon, PLUS500 became part of the FTSE250 index. This can be an interesting cost for most institutional investor traders at the right cost.
Odey Asset Managemen t-The period has reduced the shares of more than 20 % of its own securities companies in 2015 to about 5 % in real time.
Meanwhile, the founder of Teddy Saga, the main shareholder of PlayTech, has decided to withdraw from this area in 2017. He chose an extraordinary moment because he realized his package as one when the promotions of the game software major were closely traded by the historic maximum value.
The Right Valuation
At least, the retail securities industry can be discussed all day. However, the precedent remains as a precedent. The stock market appreciates PLUS500 as a more valuable company than the Play Tech. This has a significant meaning, given that the economic condition of the two companies is significantly different.
Of course, retail brokers have established a record dominance in the first half of this year, but the company itself is basically assigned that this desire is unlikely to last long. The trader noticed the share of the Broker's own promotion and reported yesterday that the plus 500 instructions were not yet played.
Playtech announced a resale of shares in Plus500. The gaming and money technology giant held a 9. 99% stake in the retail brokerage since 2015, when it tried to acquire the company.
However, the attempt failed. At the very least, Plus500's 114 million promotion earned Playtech 176 million pounds ($227 million). The gaming and money technology giant sold its shares at 1. 550 cents for its regular promotion.
According to an official statement, the proceeds from the exercise will be used for joint corporate objectives and debt reduction. Playtech remains entitled to an interim dividend announced by Plus500's management, which will bring the company $16 million.
The Conclusion to a Long Story
If you need to see the balance of power in the retail brokerage industry, this situation will worry you. Long-time Finance Magnates followers will remember that Playtech came close to acquiring Plus500 in 2015.
It all started when The Times reported that the retail brokerage had heard something from the FCA. Plus500's promotion quickly died down and within days the company had lost more than 50% of its value. At that point, the broker's market value was around £430 million, or $700 million.
Playtech saw value in the company and went ahead to acquire it in June 2015. At the time, institutional traders from Odey Asset Management were strongly opposed to the path taken by the other shareholders.
Diverging Strategies
While Plus500 was active in the markets and attracting new buyers through its cool mobile application, Playtech stuck to its guns on acquiring Markets. com itself. After a few years on the sidelines, the company decided to enter the institutional sector of the industry.
The company formed the Tradetech team after acquiring CFH Group in late 2016 and Alpha in late 2017. The rise of the company's gambling business over the years has led Playtech to become part of the FTSE250, where Plus500 is now based.
In 2014, before the company entered the economic market, Playtech's profits were 457 million euros. At the time, its net profit was 141 million euros. Playtech's commercial entry changed the company's profit structure, resulting in a profit of 80 million euros in 2017.
Compared to the Play Tech Game Case, the status of the Gam e-giant cash B2B and B2C category is relatively small. As of 2017, the company's total interest was 870 billion euros.
In other words, the contribution of financial separation is within 10 % of the company's relief. PlayTech is still and in the future, mainly a game company and a financial direction.
Plus500's Success Story
Comparing PlayTech and Plus500, you can see that the difference in business strategy has led to a difference in evaluation.
The profits and profits of PLUS500 have not been regarded for many years. However, this did not hinder the increase in retail brokers, which would be higher than that of companies specializing in games and financial development.
According to Odeia Set Management, Play Tech's stock price has reached a considerable level today. On Wednesday, Asset Management Company announced that it will acquire 5 % of the promotion.
The statistics and coefficients of P / E companies in the game and the economic trading industry are usually compared as branches. At least in real time, it's not clear why Plus500 assigns a much significant significance than PlayTech. Similar imbalance lasts for a long time.
This afternoon, PLUS500 became part of the FTSE250 index. This can be an interesting cost for most institutional investor traders at the right cost.
Odey Asset Managemen t-The period has reduced the shares of more than 20 % of its own securities companies in 2015 to about 5 % in real time.
Meanwhile, the founder of Teddy Saga, the main shareholder of PlayTech, has decided to withdraw from this area in 2017. He chose an extraordinary moment because he realized his package as one when the promotions of the game software major were closely traded by the historic maximum value.
The Right Valuation
At least, the retail securities industry can be discussed all day. However, the precedent remains as a precedent. The stock market appreciates PLUS500 as a more valuable company than the Play Tech. This has a significant meaning, given that the economic condition of the two companies is significantly different.
Of course, retail brokers have established a record dominance in the first half of this year, but the company itself is basically assigned that this desire is unlikely to last long. The trader noticed the share of the Broker's own promotion and reported yesterday that the plus 500 instructions were not yet played.
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