Global Gaming 555 set to delist as Enlabs takes over4th November 2020 11:07 am GMT
Ninja Casino operator Global Gaming 555 has confirmed plans to delist its shares in Stockholm following Enlabs’ acquisition of the business.
Having built up a 66.7 per cent majority stake in Global Gaming, Enlabs made a mandatory offer to acquire full control of the operator in September.
The acceptance offer closed on Monday, with Enlabs increasing its ownership in Global Gaming to 95.8 per cent, equivalent to 39,141,725 shares.
Enlabs said that it will not extend the acceptance period and intends to demand the compulsory redemption of the outstanding shares in Global Gaming in accordance with the Swedish Companies Act.
As a result, Global Gaming’s board has decided to apply for delisting of the company’s shares from trading on Stockholm’s Nasdaq First North Growth Market, with the last day of trading to be confirmed shortly.
Shares in Global Gaming 555 AB (STO:GLOBAL) gained 5.34 per cent to SEK10.66 per share in Stockholm Wednesday following the announcement, while shares in Enlabs AB (STO:NLAB) were trading up 2.31 per cent at SEK35.45 per share, hitting a new 52-week high of SEK36.65 earlier in the day.