Playtech has announced that it plans to raise up to £112 million, before expenses, through a placing on AIM.

Playtech has announced that it plans to raise up to £112 million, before expenses, through a placing on AIM.

The software developer and licenser to the gaming industry plans to place up to 21.6 million shares at 520p each. The equity will be used to expand the business through acquisitions, namely of affiliated marketing companies.

The placing will be conducted by the company’s nominated adviser and broker, Collins Stewart. Playtech chief executive Mor Weizer said: “Playtech made strong progress in 2007 with all key performance indicators exceeding targets. This progress has continued into 2008 with the company registering month-on-month revenue growth.”