Amaya owner David Baazov sells $267M of shares

The owners and former arch executive of Amaya Inc. has sole about two-thirds of his remaining shares in a Montreal-based owners of PokerStars, for a sum of $267.7 million.

David Baazov perceived an normal of $22.31 per share for a 12 million Amaya shares that he sole on Wednesday and Thursday.

Prior to this week’s sales, Baazov owned about 17.6 million Amaya shares — or 12 per cent of a common stock.

That drops to 3.8 per cent of Amaya’s shares following this week’s transactions, that were disclosed late Thursday.

It’s Baazov’s second vast divestiture this month. He announced Mar 7 that had sole 7 million Amaya shares during an normal cost of $19 per share, totalling $133 million.

Baazov had due early final year to buy Amaya and take it private, though walked divided from a bid in Dec after using into authorised problems.

He has pleaded not guilty to securities-related charges that were announced following an review into allegations of illicit trading by several tighten associates over a five-year period.

Article source: http://www.cbc.ca/news/business/amaya-founder-david-baazov-sells-267m-of-shares-1.4050242?cmp=rss