17th of July 2010 Author: Glo Wood
September date is the latest guesstimate
The persistent rumours that online gambling group Betfair is to go public in the UK were given added momentum this week by a Sky News report that the IPO could come as soon as September 2010.
The report named Goldman Sachs and Morgan Stanley as the advisers on the project, and noted that such a listing could value the company at GBP1.5 billion.
Betfair has consistently declined to comment on the rumours since the beginning of this year.
Tessa Murray, a spokesperson for Betfair, told reporters: "Betfair has been the subject of speculation in IPO stories for many months. We do not comment on those stories."
Betfair was launched 10 years ago by Andrew Black, a former professional gambler, and former JP Morgan trader Edward Wray, who jointly own one quarter of the company. Just under a year ago it unveiled record profits despite the recession, prompting speculation that it would revive IPO plans shelved in 2005.
However, analysts observe that the UK IPO market is not currently in good shape, having suffered a string of disappointing outcomes in recent months.
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