Online gambling site Betfair launches IPO
Betfair, the world’s largest online betting website, has launched an initial public offering of shares on the main market of the London Stock Exchange which, at a share price of 13 pounds ($20.41), values the company at 1.39 billion pounds ($2.18 billion). Betfair was initially funded by European venture capital firm Balderton, which sold a large part of its stake to Japanese holding company Softbank, which paid £355 million ($554 million). Softbank currently owns 23% of Betfair while Balderton holds a 7% stake.
22 October 2010•2 mins read
