Gaming group 888 floats in London
LONDON - Trading in shares in 888 Holdings, the Gibraltar-based online gaming group, began in London on September 29 after it placed one-quarter of its capital with institutional investors. 888 priced its initial public offering at 175 pence per share, valuing the group at 590 million pounds Sterling ($1.04 billion), the company said in a statement. Full trading starts on October 4.
Following the flotation the Israeli cofounders Aaron Shaked and his brother Avi, and Shay Ben-Yitzhak and his brother Ron will own 70 percent of the group, while management and employees will retain a 5-percent stake. More than 20 million people across 150 countries are registered to use 888’s portfolio of Websites that also includes Casino-on-Net, Reef Club Casino and Pacific Poker.
(Agencies)
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