Betfair Completes Accelerated Gbp 260 Million Bookbuilt Offering

8 million ordinary shares in Betfair Group plc at GBP 32.50 a share involved

Barclays Bank has announced the successful completion of an accelerated GBP 260 million bookbuilt offering to institutional investors of 8 million ordinary shares in Betfair Group plc, on behalf of Le Peigne SA in respect of 5 million placing shares and Rothschild Wealth Management (UK) Limited.
The two companies, acting on an agency basis for shareholders of Betfair who are connected parties of founder Edward Wray in respect of 3 million placing shares.
Owing to strong investor demand the number of shares offered in the placing was increased from 7.35 to 8 million placing shares at a price of GBP 32.50 per share.
Barclays acted as sole bookrunner in the placing. N M Rothschild & Sons Ltd acted as financial adviser to Le Peigne and the Wray shareholders.
"Both Le Peigne and the Wray shareholders remain very supportive of Betfair and its proposed merger with Paddy Power and have agreed to lock up those shares not sold in the placing for 90 days from the closing of the placing. Betfair will not receive any proceeds from the placing," the announcement advised.

Online Casino News Courtesy of Infopowa

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The man with the plan here at Casinomeister. Bryan Bailey has been running Casinomeister since its launch in June of 1998. He has watched the industry grow from its primeval stage to what it is now. The Meister has attended nearly 100 conferences in the past 20 years and has either been a speaker or a panel moderator for at least 60 events. He has always been an advocate of fairness and reason and is known to like German beer, a good Scotch, and astrophography.
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