Betfair arranges to take a £1.5bn bet on stock market
Betfair, the online gambling group is on the edge of a £1.5 billion flotation that might valiant the stock market waters since a number of latent catalogs were dragged this year.
The group might be one of the largest stock market entrance so far this year, but it is unstated that the group and its advice-giver have yet to determine on the imperative matter as to how the float would be valued.
Online grocery business Ocado has witnessed its shares jump since its contentious flotation at 180p-a-share former this year, when the City experienced its £1bn-plus flotation value was high-priced given its inconsistent trading evidence.
Set up by a past City trader and a former expert gambler, Betfair is known to be liable to press the button with a declaration of an initial public offering within a fortnight.
Though, the sources expressed that there was also still a possibility of the stock market record which might be postponed. Scottish Resources Group, the coal mining business, enticed its £250 million float in the month of July due to what it said as demanding markets.
Analysts expressed that if the flotation of Betfair moves ahead, then the group, where founders Ed Wray and Andrew Black possess a blend of 25 per cent, might earn a position in the FTSE 250 index.