Playtika jumps after report Joffre Capital buying in

Playtika Nasdaq IPO
Playtika Nasdaq IPO

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 - - on June 28, 2022.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.

Playtika Nasdaq IPO
Playtika Nasdaq IPO
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