Partygaming to Float June 27th
Partygaming, owner of online poker firm Partypoker and it’s sister bingo site Partybingo, is to raise up to £1.1bn ($1.9bn) in its initial share offer according to The BBC. The firm will seek a London stock market listing later this month in what will be the City’s biggest flotation for almost four years. Shares will be priced at between 111 pence and 127p, valuing the firm at between £4.4bn and £5.1bn.
Trading in PartyGaming shares is expected to begin on the London Stock Exchange on 27 June. Due to the size of the float the company will automatically be listed on the FTSE 100.
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