The Stars Group has proposed a public share offering in order to help complete its £3.4bn purchase of Sky Bet.
The Toronto-listed company announced in a corporate update the release of a prospectus related to a proposed 15m common share placement, to be supported by a secondary offering of 6m shares by current shareholders.
Those funds, along with the firm’s recent changes in corporate structure and debt capacity, will be used to complete the acquisition.
Morgan Stanley, J.P. Morgan and Deutsche Bank Securities Inc. are acting as the joint book-running managers and representatives of the underwriters for the offering.
