Playtika stock gains after Joffre Capital agreed to acquire a 20% stake for $21/share

Jun. 28, 2022 6:38 AM ETPlaytika Holding Corp. (PLTK)By: Niloofer Shaikh, SA News Editor1 Comment

Sign Playtika. Company signboard Playtika.

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  • Playtika (NASDAQ:PLTK) shares rallied 18% in premarket trading after a private equity firm Joffre Capital agreed to acquire a 20% controlling stake in company from a Chinese investment group for $21/share or at an $8.5B valuation.
  • The valuation represents a 46% premium over trading prices on Monday.
  • Founded in 2010, the company is an Israeli maker of casual mobile games and "social casino" games and it went public in January 2021 at $27 per share, representing an $11.1B valuation.
  • As of Monday's close, its market cap was just shy of $6B.
  • The company's shares will continue trading on Nasdaq after the sale.

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