Business
Proposed Placing of New Ordinary Shares
Proposed Placing of New Ordinary Shares.
About this update from Entain Plc
[{"type":"text","content":"\n\nTHIS ANNOUNCEMENT, INCLUDING THE APPENDIX, AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN, SOUTH AFRICA OR ANY OTHER STATE OR JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. PLEASE SEE THE IMPORTANT NOTICE SECTION OF THIS ANNOUNCEMENT.\nTHIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND IS NOT AN OFFER OF SECURITIES IN ANY JURISDICTION.\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION\n \n13 June 2023\n \nEntain plc\n \nProposed Placing of New Ordinary Shares\n \nEntain plc (LSE:ENT), the global sports-betting, gaming and interactive entertainment group (\"Entain\", the \"Company\", and, together with its subsidiaries, the \"Group\"), today announces its intention to conduct an equity raise of approximately £600m through a non-pre-emptive placing of new ordinary shares of €0.01 each in the capital of the Company (the \"Placing Shares\") to institutional investors (the \"Placing\").\n \nConcurrently with the Placing, the Company will today make a separate offer of new ordinary shares of €0.01 each in the capital of the Company (the \"Retail Offer Shares\") via PrimaryBid (the \"Retail Offer\"), to provide retail investors with an opportunity to acquire Retail Offer Shares. A separate announcement will be made shortly regarding the Retail Offer and its terms.\n \nThe Placing will be conducted through an accelerated bookbuild which will be launched immediately following this Announcement and will be made available to new and existing eligible institutional investors. The Placing is subject to the terms and conditions set out in Appendix I to this Announcement. Merrill Lynch International (\"BofA Securities\") and Morgan Stanley & Co. International plc (\"Morgan Stanley\") are acting as joint global coordinators and joint bookrunners (together, the \"Bookrunners\") in respect of the Placing, with Banco Santander, S.A. (\"Santander\", and, together with the Bookrunners, the \"Banks\") acting as co-manager.\n \n\nUse of Proceeds\n \nEntain has separately announced today that Entain CEE is launching a tender offer (the \"Offer\") to acquire 100% of STS Holding S.A. (\"STS\"), the leading sports-bet...