Stars Group releases public share offering details

Toronto-listed The Stars Group has released details on its new public share offering, the proceeds of which will go towards the $4.7 billion acquisition costs of Sky Betting and Gaming (see previous reports)

The documents propose a 15 million common share placement, additionally supported by a secondary 6 million share disposal undertaken by existing corporate shareholders.

The offering will be priced in the context of the market with the price and total size to be determined at the time of entering into an underwriting agreement.

The Company and the selling shareholders will also grant the underwriters for the offering an over-allotment option to purchase up to an additional 15 percent of the common shares to be sold, exercisable for a period of 30 days after closing.

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