Playtika shares tumble after Joffre Capital buys stake

Playtika Holding

28/06/2022 15:57

(Updates)
    ** U.S.-listed shares of Israeli mobile gaming co Playtika
Holding Corp  PLTK.O  erase premarket gains, now down 6.3% at
$13.48
    ** In a SEC filing https://www.sec.gov/Archives/edgar/data/1828016/000119312522183513/d373865dsc13da.htm,
 affiliates of Shi, the largest stockholder of PLTK, disclosed
that Joffre Capital agreed to buy 106.1 mln shares of co, or a
stake of 25.7%, at $21 per share on Monday
    ** Filing disclosed that the private equity firm will
propose an initial director nominee to co's board within 2 weeks
    ** According to the filing, Joffre Capital will propose
another director nominee before deal close, if initial board
appointment is made 
    ** Earlier this year, PLTK said it was considering strategic
alternatives, including a sale  urn:newsml:reuters.com:*:nPnMDwFCa
    ** Playtika said it cannot comment on the matter
    ** The agreement was first reported https://bit.ly/3yonqq6
by Axios
    ** Up to last close, stock had fallen 22.1% this year

 (Reporting by Nandhini Srinivasan from Bengaluru)
 ((Nandhini.srinivasan@thomsonreuters.com))