Betfair shares off to strong start
Oct 23 2010 Huddersfield Daily Examiner
SPORTS betting firm Betfair was valued at £1.4bn on its stock market debut.
The listing yesterday was a major landmark for Andrew Black, a one-time professional gambler, and former City trader Edward Wray, who founded the business 10 years ago.
They saw their combined stake valued at more than £320m before the start of trading.
They both sold about a million shares in the flotation, worth between £14m and £17m. but retain more than 20% of the business.