Playtech Applies For Stock Exchange Upgrade

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Online wagering software developer Playtech plc announced through a public statement that it intends to apply for a premium listing of its ordinary shares on the UK Listing Authority.

The notice was filed on Wednesday and also includes the company's intent to trade on the London Stock Exchange's main market for listed securities. The betting software firm also gave notice of its intention to cancel the trading of its stock through the AIM Market of the London Stock Exchange.

The statement revealed that: "The Company believes that the Official List is the most appropriate platform for the continued growth of the Group by increasing Playtech's profile, assisting in the liquidity of the Company's shares and providing a greater range of potential investors for the Company."

Playtech is expected to file its prospectus on June 28th for its Admission and that the company's shares will be admitted to the Official List of the UK Listing Authority. The move would likely occur simultaneously with the cancellation of trading on the AIM Market on July 2nd. Of course, all proposed moves are subject to approval by the London Stock Exchange and UK Listing Authority.