Betfair investors agree IPO range of up to £14 per share

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Times Tags: NULL Share Wednesday 6 October 2010 8:50 pm whatsapp Betfair investors agree IPO range of up to £14 per share center_img whatsapp BETFAIR will announce its plan to float on the Stock Exchange today after a meeting of the company’s 700 shareholders voted in favour of an initial public offering (IPO) at a meeting last night.City A.M. understands the price range will be between £11 and £14 per share, valuing the company at between £1.16bn and £1.48bn.About 10 per cent of the stock will be floated in the IPO although more shares could be issued if demand is strong enough. Betfair was launched ten years ago and allows gamblers to offer odds and bets to each other via the internet, eliminating the need for a bookmaker.It now claims to be the largest gambling community in the world. It also sponsors sporting events, including horseracing.But there are concerns the IPO could be shunned by investors who suffered losses after the flotation of Ocado, the online supermarket delivery service, this year.Of Betfair’s 700 shareholders about 500 are employees. Its other big shareholders include the private equity firms Balderton Capital and Index Ventures and Richard Koch, co-founder of LEK Consulting.Japanese bank Softbank bought a 21.5 per cent stake for £13.20 a share four years ago. The bank is thought to have objected to a listing at a price below this level, forcing Betfair to delay a planned IPO in August.Founders Ed Wray and Andrew Black own 22.5 per cent of the business — worth between £281m and £359m at the proposed IPO price. Read This Next’Kevin Can F**k Himself’: Here’s Why Only Allison and Patty Are SeenThe Wrap20 Stars Who’ve Posted Nude Selfies, From Lizzo to John Legend (Photos)The Wrap’Batwoman’: Wallis Day on Circe’s ‘Deranged’ Warpath and the Key to SavingThe Wrap’Godzilla vs Kong’ Reaches $100 Million in US After Grossing $250,000 inThe WrapJoin a Conversation on ‘Cancel Culture in Comedy’ with Maz Jobrani, SkyeThe WrapAnya Taylor-Joy, Ralph Fiennes Join Searchlight’s Dark Comedy ‘The Menu’The WrapAfter ‘Black Widow,’ Kevin Feige Leaves Open the Possibility of OtherThe Wrap’Pose’ Creator Steven Canals on Life After His Groundbreaking Show: ‘I’mThe Wrap’The Boys’ Star Aya Cash Took Inspiration From YouTube, TikTok and SteveThe Wrap Show Comments ▼ KCS-content last_img read more