William Hill Achieve £224m Bookbuild Target In 24 Hours

William Hill Plc has achieved its bookbuild funding target, generating £224 million in working capital for its potential growth plan, sustaining its digital growth momentum and speeding up its US wagering partnerships.

Closing trading on Tuesday, June 17, William Hill announced it had sanctioned a new share investment for 19.99 per cent of the existing share capital of the firm.

William Hill has completed its share-placement in less than 24 hours by announcing that the company will issue 175,000,000 new ordinary shares at 128p per share.

Joint-bookrunners Barclays and Citigroup put the bulk of the deal, securing 169,000,000 (96 percent) of new shares for institutional investors. Therefore, William Hill completed its transaction before Friday, June 18.

The betting group FTSE250 also placed 5,600,000 new shares through the LSE PrimaryBid platform at retail investors.

Senior executives led by Chairman Roger Devlin and Group CEO Ulrik Bengtsson participated in the transaction by securing a combined tranche of 160,000 new shares, as communicated in its trading update.

William Hill also outlined in the declaration that there was a clear takeover of the company from established shareholders.

Following their latest share subscription, William Hill announced that the total shareholdings of the company will be kept at 1,075,000,000 of which 1,049,000,000 would be allocated to voting shares.