Betfair set to float on Stock Market
Jul 17 2010 Huddersfield Daily Examiner
GAMING giant Betfair is lining up a potential £1.5 billion stock market flotation.
The online betting exchange is understood to be planning an initial public offering as early as September after holding talks with its advisers this week.
Betfair is expected to earn a place in the FTSE 250 Index if its reported stock market debut gets the go ahead.
The firm is said to have considered a listing before, but plans were put on hold in 2005 as it reportedly wanted to wait until after the previous World Cup - which is always a mammoth event for gaming firms.
Betfair was founded 11 years ago by Bertie Black and Ed Wray, who are understood to own 25% stakes each in the firm.
The remainder of the company is thought to be owned by Japanese bank Softbank.