January 28 - PartyGaming, the planet's largest online poker group, announced yesterday its
intention of later this year floating the company on the London Stock Exchange
through an initial public offering (IPO).
PartyGaming has appointed Dresdner Kleinwort Wasserstein as well as Investec Securities to give it strategic advice on the proposed floatation, which could be worth in excess of 3 billion pounds sterling.?
There is speculation that the online gambling giant is also looking at other
alternatives, including seeking a sizeable, like-minded company to merge with or
raising debt.
Founded in 2001 and formerly called iGlobalMedia, PartyGaming is based in
Gibraltar and accounts for over half of the world's total online poker market.
In 2004 the company recorded gross earnings of approximately 186 million pounds ($350 million).
