Party IPO

[michiganfan9]

I think the pricing occurs June 28th but the IPO won't hit out until july/august. Please correct me if i'm wrong, i'm not 100% sure about that, but I thought I read it on forbes somewhere.

[Martin]

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".

[David Steele]

started trading now PRTY.L at about 126 p

[apokera]

Need conversion pleasee. How much is 126p in american dollars? thanks!

[Martin]

Go to Yahoo Finance Yahoo Currency and use the currency converter for the days exchange rate. 100 pence make up 1 British pound. All London stocks trade in Pence. So currently if the stock is at 126 pence thats 1.26 Pounds. 2.3 USD if you convert at the given rate on Yahoo. Note you won't get that rate since your broker is going to screw you on Forex conversion. Also remeber that there is a 1 percent stamp duty on UK Stocks.