Partygaming Float - interesting article

Well they are doing okay this morning. I'm guessing they will continue to climb and be worth more 6 months down the line than their initial floatation price.

Fancy betting against me on Betfair Simmo?

 

Done.

 

Anyone who knows how I can sign up with a UK broker online to get shares, let me know please. I am of the view that PG will outdo Google's performance.

It's not every day that a company cracks the FTSE 100 on debut, after all.

 

Bearing in mind that the stock was three times oversubscribed by institutional investors (they were the market yesterday) and went on at 116p it did very well according to a review late last night:

"Shares in PartyGaming surged to 130.5p to finish 13 per cent above its listing price of 116p, after it completed the biggest London flotation in five years.

"PartyGaming's market capitalisation was about 5.2bn last night, making the eight-year-old company larger than Marks & Spencer, British Airways and Boots by valuation. It is set to gain entry into the FTSE 100 in autumn."

Parasol, Dikshit et al did rather well out of it:

"Anurag Dikshit, its reclusive operations director, sold 365 million of shares, and has a stake worth 1.6 billion. Thirty eight year old Ruth Parasol, the brainchild behind the company, collected 189 million from selling shares and has a stake in the business worth 832 million. Vikrant Bhargava, PartyGaming's marketing director, sold 103 million of shares and has a stake worth 468 million.

"Richard Segal, the chief executive who sold 9 million of shares in the float and has options over a tranche worth 42 million, said investors had given the company's future a ringing endorsement."

Spear have you tried Charles Schwartz for purchasing - they're big online in the brokerage field and although based in the States do global deals.

 

Jetset - I assume you are talking about Charles Schwab - I did check there, but, as with every other place I've checked so far, you have to be a UK resident (or have a UK bank account) to register.

This is proving a bit more difficult than I thought - perhaps on my next trip to London at least I should get a bank account.

Simmo - want another tenner?

 

That doesn't explain why PartyGaming has hit 149p from its opening at 122p... and only today is showing its first downturn (of 1p)

I still reckon my 10 quid is as good as my last Golden Goose hit...

 

Yes Simmo, you might as well pay us now.

 

The drop is the result of a common Friday phenomena called "profit taking".

Another tenner says it will finish next week above 160p.

 

Currently 1.39 - looks like you may owe Simmo a tenner Spear.

I on the other hand am looking safe for my bet with Simmo. 2 years is a long time mind

 

I want in on this action. I think it will be down 30% in six months. $10 American.