Betfair hopes float will raise £1.5bn 07/10/2010 |
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Betfair, the online sports betting provider, has set the price range for its shares ahead of its planned listing on the London Stock Exchange.
The company, founded 10 years ago, said it hoped to raise between £1.16bn and £1.48bn from the move.
The price of its shares has been set in a range between £11 and £14 each.
If the shares are priced in this range, Betfair, which has grown into the world's largest business of its kind, would make it into the FTSE 250 index.
Betfair 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.
When it announced its plans to float last month, Betfair said it had identified "multiple opportunities to secure future growth".
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