Digital security firm Kape jumps on $1.5 bln buyout offer from top shareholder
13/02/2023 08:27
** Digital security firm Kape Technologies KAPE.L up about
12% at 291p - best intraday gain since Sept. 12
** KAPE's largest shareholder Teddy Sagi says he would make
a cash offer to buy the digital security and privacy software
business for about $1.51 bln
** Offer price is 9.7% higher than KAPE's last closing price
of 260p per share on Feb. 10
** Sagi, the founder of gambling software firm Playtech,
owns 54.8% of KAPE's stock and intends to buy the London-listed
group's remaining shares at 285 pence apiece
** Teddy Sagi's Unikmind Holdings first approached KAPE in
Dec. with a proposal to make an offer at 265p per share
** KAPE urged its shareholders to not take any action on the
offer
** Including sessions gains, stock up ~4% YTD
(Reporting by Radhika Anilkumar in Bengaluru)
((Radhika.Anilkumar@thomsonreuters.com))