Betfair flotation: Prospectus out this week (update)


Analysts and institutional investors watching for signs of over-valuation

The much anticipated public flotation of ten percent of internet gambling group Betfair will take an important step forward with the issue this week of the prospectus, setting out the number of shares that will be made available and at what price.

The Financial Sunday Express reports that investors can expect to get their hands on the document Thursday, with speculation currently predicting a valuation of around GBP 1.2 billion...somewhat less than original media estimates of GBP 1.5 billion

The newspaper reports that Betfair may have to cut the price of its flotation as institutional investors fear the betting company has been overvalued by its bankers - Goldman Sachs, Morgan Stanley, Barclays Capital and Numis.

Commenting ahead of the prospectus’s publication, several institutional investors told the Financial Sunday Express they fear the Betfair IPO will be similar to the debacle that was Ocado’s flotation, where the firm had to chop its proposal from GBP 1 billion to GBP 800 million after investors threatened to snub the share offering on valuation grounds.

The head of one City investment group said: “The Betfair story is quite good: people are comfortable with it. The danger is that it gets an exaggerated valuation. Some people have been put off the IPO as they believe Goldman will overvalue it.”

General Gambling News Gambling Law & Society News

Login to post a comment:


 
 

Click Here to register a new account

What's going on right now!

4mins ago someone from United States played Count Yer Cash

Casino Community

Share this page on:
Follow LCB on:
Follow LCB

Casino Of The Month

Casino of the Month

In the last 24h

Totals

  • New Members
    22
  • Members Online
    338
  • Guests
    2,090
Highest Community Rated Online Casinos
NextCasino
  (121 Ratings)
Bet365 Games
  (140 Ratings)
CasinoLuck
  (189 Ratings)
Betsson Casino
  (184 Ratings)
Redbet Casino
  (112 Ratings)
Slotty Vegas
  (83 Ratings)
Guts Casino
  (138 Ratings)
Betsafe Casino
  (159 Ratings)
Unibet Casino
  (108 Ratings)
BitCasino.io
  (142 Ratings)
Spin Palace Casino
  (95 Ratings)
Intertops Casino Classic
  (87 Ratings)
Mr Green Casino
  (248 Ratings)
ComeOn Casino
  (199 Ratings)
32 Red Casino
  (259 Ratings)
Liberty Slots Casino
  (141 Ratings)
Winner Casino
  (308 Ratings)
Casumo
  (105 Ratings)
Thrills Casino
  (107 Ratings)
Jetbull Casino
  (80 Ratings)
Sin City Casino
  (74 Ratings)
Intertops Red Casino
  (96 Ratings)
BETAT Casino
  (164 Ratings)
PlayHippo
  (53 Ratings)
Vera John Casino
  (153 Ratings)
Slotland
  (258 Ratings)
3Dice Casino
  (218 Ratings)
Ladbrokes Casino
  (132 Ratings)
Ruby Fortune Casino
  (121 Ratings)
River Nile Casino
  (83 Ratings)


Follow LCB on Facebook Follow LCB on Twitter Follow LCB on Pinterest Follow LCB on Google plus