Playtech (AIM:PTEC) – move to Official List is another loss for AIM
Given it’s large size, it was to be expected but Playtech’s move to the Official List from AIM at the beginning of July will be a sad loss for the junior market and IHT planning portfolios in particular
The company expects to publish a prospectus regarding the Admission on 28th June and the ordinary shares will be admitted to the Official List on 2nd July whilst simultaneously cancelled on AIM.
While investors in general, notably the larger institutions, will welcome the move it means another sizeable, reliable, cash generative business will no longer we available for IHT planning investors.
One broker has observed that PTEC is the six largest company by market cap in the software & computer services index and will be close to one of the Top 100 companies within the FTSE 250 index.