Betfair plans stock market float 21/09/2010 |
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Betfair, the online sports betting provider, has said it plans to list its shares on the London Stock Exchange.
The company, which is estimated to be worth £1.5bn, was founded 10 years ago.
It has three million customers and pioneered person-to-person betting, where punters bet against each other rather than the bookmaker, on a range of sports.
The business is currently majority-owned by 14 major investors who hold 75 per cent of the company.
In a statement, Betfair said it had identified "multiple opportunities to secure future growth".
Betfair's founders, Andrew Black, a former professional gambler, and former JP Morgan trader Edward Wray, jointly own one-quarter of the group.
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