London Stock Exchange welcomes Betfair
- Company valued at £1.39bn on admission
The London Stock Exchange today welcomed Betfair, the world’s largest international online sports betting provider, to its Main Market. The total offer size was £234m (including over-allotment option), valuing the company at £1.39bn upon admission. The firm is expected to be admitted into the FTSE250.
Tracey Pierce, Director of Equity Primary Markets at London Stock Exchange Group, said:
“We are delighted to welcome Betfair to our Main Market. Betfair’s successful IPO demonstrates London’s continued commitment in supporting strong businesses with a promising growth story. London’s deep pool of international investors have committed over £6 billion to new issues joining our markets this year, highlighting the vital role that equity markets will continue to play in funding the economic recovery.”
Betfair is the world's biggest betting community, offering a range of sports betting, poker and games products to more than 3 million registered customers. Launched in 2000, Betfair pioneered online person-to-person sports betting by the creating the "Betting Exchange" eliminating the need for a traditional bookmaker.
Betfair’s admission takes the total number of IPOs on the Exchange’s markets this year to 61, 30 of which have been conducted on the Main Market. In total, IPOs on the London Stock Exchange this year have raised over £6 billion.
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Notes to editors:
About London Stock Exchange Group:
London Stock Exchange Group (LSE.L) sits at the heart of the world’s financial community. The Group operates a broad range of international equity, bond and derivatives markets, including London Stock Exchange; Borsa Italiana; MTS, Europe's leading fixed income market; and Turquoise, offering pan-European and US lit and dark equity trading. Through its markets, the Group offers international business unrivalled access to Europe’s capital markets.
The Group is a leading developer of high performance trading platforms and capital markets software and also offers its customers around the world an extensive range of real-time and reference data products and market-leading post-trade services.
Headquartered in London, United Kingdom with significant operations in Italy and Sri Lanka, the Group employs around 1500 people. Further information on London Stock Exchange Group can be found at www.londonstockexchangegroup.com.