PartyGaming Price Set
Monday June 27, 07:20 AM
PartyGaming sets 116p price
LONDON (ShareCast) - PartyGaming , the online poker giant, is all set to join the FTSE (news) 100 soon as the controversial website joins the market today.
The casino site has set its offer
price at 116p per ordinary share to institutional investors, making the group's market cap at the start of trade as £4.64bn.
Conditional dealings are expected to commence on the London Stock Exchange (LSE: LSE.L - news) at 8:00am today, while PartyGaming's shares will be admitted to the Official List with unconditional dealings to commence on 30 June 2005.
Richard Segal, chief executive, said, "We are delighted that the IPO has received an excellent response from major UK and international institutional investors. The listing will reinforce the Group's position as one of the world's leading online gaming companies".
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