Veralda, the private investment fund of Swedish sports betting tycoon Anders Ström, has confirmed the sale of 675,000 shares in Kambi Group Plc.
The share sale was executed yesterday, with Veralda divesting 2% of its current equity in Stockholm-listed Kambi for a purchase price of SEK 462 per share (€45).
The transaction placed with private Swedish and institutional private investors saw Veralda net gross proceedings of SEK 312 million (€31m), as the investment fund reduced its Kambi shareholding to 5,400000 of ordinary shares (17.5%).
“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,” Ström commented on the transaction statement.
Closing its statement, Veralda emphasised that it was a fully committed long-term investor of Kambi and would maintain active representation on its board.
Ström has maintained an investment in Kambi since the sports betting technology group’s formation in 2010, splitting the technology assets of Unibet Plc.
Ström, the founder of Unibet, announced last December that he would not renew his tenure as Kindred Group non-executive Chairman as he maintained a promise to disengage from the businesses prior to his 50th birthday.