Veralda announces sale of Kambi Group shares

Veralda announces sale of Kambi Group shares

Posted by: AffPapa

Swedish betting tycoon Anders Ström’s private investment fund Veralda has announced that it has sold 675,000 shares in Kambi Group Plc.

The sale of the shares was carried out yesterday and saw the fund stripping 2% of its current equity in Kambi, which is Stockholm-listed, for a purchase price worth about SEK 462 for each share (€45).

The transaction, which was placed with private Swedish and institutional private investors witnessed the fund seize gross proceedings valued at SEK 312 million (€31m), since it decreased its Kambi shareholding to 5,400000 of ordinary shares (approx. 17.5%).

Anders Ström noted in the statement:

I am pleased to see an overwhelming interest from both current and new shareholders wanting to invest in Kambi’s growth story. Kambi has developed into a leading premium sports betting technology company, with significant opportunities in new and existing markets.

Towards the end of the statement, Veralda underlined its dedication to being a long-term investor and keeping an active representation on Kambi’s board. The tycoon has had an investment in the company since 2010, when the sports betting technology group was formed, dividing the technology assets of Unibet Plc.

Ström is the founder of Unibet and declared in December of 2020 that he will not be renewing his tenancy as the non-executive Chairman of Kindred Group as he had kept the promise of detaching himself from that business before he turned 50.

  • PlayUp fantasy & sportsbook operator enters New Jersey
  • TheScore is acquired by Penn National for 2 billion dollars