The online gaming software provider plans to raise £175m in an initial public offering that will value the company at £550m and net £70m for Teddy Sagi, the Israeli entrepreneur that founded Playtech in 1999.
Sagi, who owns more than 50 per cent of Playtech, would be left with a stake worth over £200m.
Last year, Playtech generated profits of £20.5m on sales of £27.4m from its 37 licensees.
Collins Stewart has been appointed as sole bookrunner with Seymour Pierce lined up as joint broker for the IPO planned within the end of March.
“The IPO will raise the profile of the company and provide it with a significant platform for growth. We look forward to developing the business,” said Avigur Zmora, Playtech Chief Executive.
In 2002, an external investor turned down an offer to buy 10% of the company for $1.8m.
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