BUSINESS

Dueling IPOs – Betfair prices shares at £13, Fortuna raises €78M

TAGs: Betfair, Fortuna, IPO

IPO-Betfair-FortunaFriday’s public offering of betting exchange Betfair saw shareholders sell 15.2% of the company’s stock at £13 per share, raising £211M and giving the company a starting market cap of £1.39B (for those of you following the odds of these things). The £13 price was at the upper end of the initial estimates of £11-14.

In other IPO news, Czech firm Fortuna Entertainment Group sold 35% of its gaming business at €4.3 per share, marking the Czech Republic’s first IPO since May 2008. The €78.26M raised by the IPO will help the company start a lottery project in the Czech Republic.

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