David Baazov, founder and former CEO of Amaya, sells 7 million shares

David Baazov, founder and former CEO of Amaya, sells 7 million shares

MONTREAL — David Baazov says he has sold seven million common shares in Amaya, the Montreal-based gaming company he founded and once led as CEO before he encountered legal troubles.

Baazov sold the stock on the S&P/TSX composite index for $19 per share, totalling $133 million.

The disposition leaves Baazov with roughly 17.6 million common shares, representing 12.1 per cent of the company’s issued and outstanding common stock.

Baazov pleaded not guilty last year to securities-related charges following an investigation into allegations of insider trading.

He had proposed to buy Amaya (TSX:AYA), but walked away from the bid in December.

The Canadian Press

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