London property developer sells $616m of online gambling stock

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By Sam Kerr
21 Jul 2020

Richard Livingstone, the British billionaire property developer, sold Skr5.5bn ($616m) of shares in Swedish online gambling company Evolution Gaming in an overnight trade on Monday, to help mitigate the effect of Covid-19 on his property portfolio.

Morgan Stanley was the sole bookrunner on the deal.

Livingstone sold 8.5m shares for Skr650 a share, a discount of 6.5% to the close. The share sale was worth roughly 4.7% of Evolution Gaming’s share capital.

Livingstone owns London & Regional Properties, with his brother. It is one ...

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