LONDON (Alliance News) - finnCap Group PLC said Wednesday it has been appointed sole bookrunner by several large shareholders in Israeli mobile advertising technology company Taptica International Ltd to sell about 11% of the company's shares.
Shares in Taptica were down 8.7% at 146.10 pence each.
Eitan Epstein & Shirley Dahan Trust and Hagia Tal, on behalf of MTD PTE Ltd, and Ehud Levy, on behalf of Smart & Simple Ltd, intend to sell up to 14.3 million shares in Taptica, about 10.6% of Taptica's issued share capital.
The sole beneficial owner of MTD PTE is Hagai Tal and the sole beneficial owner of Smart & Simple is Ehud Levy.
The sellers have agreed to a block trade agreement. The pricing of the bookbuild will be decided later.
The disposal of the shares will be though a placing to institutional investors, other professional investors and the existing company share buyback.
Taptica will not receive any proceeds from the placing.
In February, Taptica agreed a GBP135 million takeover of peer RhythmOne in an all-share merger to create a combined company worth about GBP300 million.