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  • btc = $68 113.00 1 751.70 (2.64 %)

  • eth = $2 529.10 18.11 (0.72 %)

  • ton = $5.15 0.05 (1.03 %)

29 Jun, 2022
1 min time to read

Israeli-founded mobile game developer Playtika is changing ownership: private equity firm Joffre Capital will acquire a 20% controlling stake. Playtika's shares will continue to trade on the Nasdaq after the sale.

Playtika is currently managed by a Chinese consortium, which will sell a 20% stake to private equity firm Joffre Capital for $ 8.5 billion, a valuation that represents a nearly 46% premium to Playtika's share price at the close of trading on Monday. As a result, Playtika's share price rose 32.2% in extended trading hours. However, the valuation is still around 20% lower than the $11.1 billion valuation with which Playtika went public just a year and a half ago, in January 2021, which was the largest IPO of an Israel-based company.

The deal will see a 20% stake in the company, currently held by a Chinese consortium led by Yuzhu Shi, sold to Joffre, led by James Lu, a former Baidu executive who is also chairman of LGTBQ dating app Grindr.