Betfair Confirms $2.3 Billion IPO
Published on:
Sep/21/2010
Europe’s largest online betting exchange, Betfair, has confirmed it is looking to go public with a $2.3 billion IPO. Many pundits believe such a move could prove a giant gamble during these troubled economic times. The company plans to list on the London Stock Exchange.
It has been widely reported that the owners would like to pursue an IPO but were concerned over the current economic climate.
Founders Andrew Black and Edward Wray each own a quarter of the company and have indicated they will each sell 10 percent of their stakes.
Initial reports have Goldman Sachs, Morgan Stanley, Barclays Capital and Numis potentially involved in any IPO.
Aaron Goldstein, Gambling911.com
