BLP advises Playtech on Main Market move
International law firm, Berwin Leighton Paisner (BLP), has advised longstanding client Playtech on its move from AIM to a Premium Main Market Listing, effective on Monday 2 July 2012. Playtech is the world’s largest publicly-traded online gaming software and services supplier and, boasting a market capitalisation of over £1bn, is expected shortly to be eligible for inclusion in the FTSE 250 Index.
The move to the Main Market marks a significant milestone for Playtech after its initial flotation on AIM in March 2006. Since then, the company has enjoyed consistent growth, both organically and through a number of strategic acquisitions and joint ventures, and its market capitalisation has almost doubled. Over this period, BLP has advised Playtech on a number of key transactions for its business, including navigating through the two London listing processes, two additional equity fundraisings, its online joint venture with William Hill and a number of acquisitions, such as Geneity, Ash Gaming, PT Turnkey Services, Virtue Fusion and GTS. On each of these transactions, the BLP team has been led by corporate finance partner Alex Latner. On the Premium Listing, Alex was assisted by Gareth Jones, Brian Mulkerrins and Natalie Carter.
Commenting on the transaction, Alex said: “We are delighted for Playtech and are proud to have played a part in helping the company achieve this success. Our longstanding relationship, coupled with the firm’s strong track record in corporate finance and the gambling sector, has enabled us to help guide Playtech through a constantly evolving market place and ultimately assist the company in achieving its commercial objectives.”
Mor Weizer, CEO of Playtech said: “We have worked with the team at BLP for over six years, when we first instructed them on our London IPO. They understand our business and how we work, and are leading advisers in the industry. BLP consistently delivers outstanding service and legal advice, whilst the team is responsive, personable and, importantly, commercial. They always get the deal over the line, consider all the angles and leave no stone unturned.”
Canaccord Genuity acted as Playtech’s sponsor in connection with the Premium Listing and were advised by Travers Smith.
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