LeoVegas co-founder sells £5m in shares to diversify investment portfolio
Robin Ramm-Ericson says his involvement in the company will not change despite selling off £4.9m of shares
LeoVegas co-founder and MD for investment brand LeoVentures, Robin Ramm-Ericson, has divested 24% of his company shares to diversify his portfolio.
Ramm-Ericson’s 1.7 million shares were sold for SEK 58.9m (£4.9m), the Swedish Financial Supervisory Authority reported.
Ramm-Ericson previously owned more than seven million shares, corresponding to 7% of votes and capital.
Speaking to Swedish newspaper Breakit, Ramm-Ericson said: “Now I will make a number of complementary investments and therefore need to dispose of a smaller part of my holding.
“LeoVegas is and has always been my passion,” he said.
“My involvement in LeoVegas does not change, I am still one of the largest owners and do not intend to sell more shares in the near future.”
Ramm-Ericson still holds more than 5% of the firm’s shares.
This week, the operator reported Q4 2018 revenues of €84.5m, up from the €67.8m reported during the fourth quarter of 2017.
Shares in the operator were down 1% in early trading on Friday with a share price of 34.26 SEK.