Amaya Gaming’s shares have soared on Friday after former CEO David Baazov (pictured) provided yet another update on his bid to take the company private.
On Friday, Baazov filed papers with the US Securities and Exchange Commission (SEC) detailing the latest financing sources behind his C$24 per share bid to acquire the Toronto- and New York-listed Amaya, the parent company of PokerStars, and take it private.
On November 14, Baazov filed SEC papers claiming that his takeover bid was backed by four investment groups, but one of these firms – Dubai-based KBC Aldini Capital Ltd – later claimed that it had no idea what Baazov was talking about and filed its own SEC paperwork accusing Baazov of fraudulently using KBC’s name.
Baazov subsequently issued a statement admitting that KBC wasn’t involved and that he and his advisors had somehow been hoodwinked by as-yet unidentified parties passing themselves off as KBC reps. That same day, another of Baazov’s four previously identified financers, Hong Kong-based Goldenway Capital, said it was “prepared to increase our commitment” to ensure the Amaya bid’s success.