Skip to main content

Betfair float to be pushed back again?

The rumours were all saying the company was primed for an October float but lacklustre results from recent flotations may push it back to 2011 or beyond.

A study reported by The Financial Times has shown that more than half of the big "initial public offerings" in Europe this year had shares trading below their issue price, leaving investors sitting on a loss.

Betfair to play waiting game over flotation (subscription)) (free link)

THE prospects of being able to buy shares in Betfair from as soon as next month appear to have taken a knock from the performance of other Stock Market listings in 2010.

In the absence of a commitment from Betfair on its long-mooted Stock Market flotation at a value of as much as £1.5 billion, evidence from other firms appears to show the timing may be wrong.

.
.
.
Preparing for such a massive sea change in the company's ownership is not without its difficulties, but thoughts that October was the favoured month for a Betfair float may need to be reassessed in the light of the post-float experience of other businesses.
.
.
.
Ocado, the online service that delivers Waitrose goods, was forced to cut its flotation price from 200p to 180p and, despite that manoeuvre, shares fell by 20 per cent in just over a month.

Of 31 businesses which floated across Europe since January and which raised more than $100m, 16 were trading under issue price last Friday. The FT also reported that the average performance of six launches backed by Goldman Sachs reported to be an adviser to Betfair - was a drop (from the issue price) of 0.7 per cent.


So it could be a while yet for all those early staff members who are still sitting on their company shares....

Comments

  1. Hi Scott. Just read your page on Spot Fixing which you wrote in April, and you have to consider whether the NOTW blagged your blog! OK, so Spot Fixing is fairly well known about in gambling circles - but I doubt your average man in the street knows anything.
    In my opinion, whoever is involved will be staking huge amounts on events unlikely to affect the result. A bit like the bookie to had a market on how many times Rooney gobbed during a particular match.

    ReplyDelete
  2. Ever tried to get set with a bookie on novelty markets? They serve as fodder for PR and mug punters, little else. Spot betting is usually over a period of the match, as little as one over for T20, maybe five overs during a Test. There has to be time for punters to get on, the alarm bells would ring if you rang up the day before to bet on how many wides there would be in the 17th over of a Test match...

    ReplyDelete

Post a Comment

Thanks for your comments, but if you're a spammer, you've just wasted your time - it won't get posted.

Popular posts from this blog

lay the field - my favourite racing strategy

Dabbling with laying the field in-running at various prices today, not just one price, but several in the same race. Got several matched in the previous race at Brighton, then this race came along at Nottingham. Such a long straight at Nottingham makes punters often over-react and think the finish line is closer than it actually is. As you can see by the number of bets matched, there was plenty of volatility in this in-play market. It's rare you'll get a complete wipe-out with one horse getting matched at all levels, but it can happen, so don't give yourself too much risk...

Gimcrack Stakes preview

The final day of the Ebor Festival has a great spread of races, and just one of them could be described as having a clear-cut favourite. A solid reward for anyone who can find a winner.

The 2yo feature of the day is the Gimcrack Stakes, and saddling up again for the preview is Darren Goodbody, @DarrenPGoodbody. You can read more of his work here.

----------------------

Irish Thoroughbred Marketing Gimcrack Stakes
Group 2, 6f, 2yo C&G
£220,000
1510 local 0010 AEST


What a week it has been on the Knavesmire, some impressive juveniles to keep on the note book especially Tasleet of William Haggas's and Wesley Ward's Acapulco who impressed me taking on older horses, but even though with the 29lb allowance he could not over come proven Group 3 winning sprinter Mecca's Angel.

Mark Johnston has not improved on his six percent average here at York and I have reservations that it is going to improve with Buratino or Ode the Evening. The Listed Woodcote Stakes and Group 3 Coven…

Villiers Stakes preview

The highlight of summer racing in Sydney is the Villiers Stakes. Tasked with the preview is Mitch Fenton.

-------------------

Villiers StakesRandwick, G2, 1600m
1615 local time, 0515 GMT

Form link

Website
Twitter: @weekndkngracing
Facebook: /weekendking


The most reliable guide to the Gr2 Villiers has always been the Festival Stakes.

I’m going to stick with that form line; here’s the horses who ran in the Festival, running today.

1 I'm Imposing (55.5) 20-1
2 [0.1] Estonian Princess (54) 7-1
3 [0.3] Strawberry Boy (57.5) 6-1
5 [1.7] Sir Moments (56) 11-2
6 [2.5] Multilateral (54) 60-1
7 [3.8] Scream Machine (56) 20-1
8 [4.3] Aomen (58.5) 30-1
11 [6.8] Monton (60) 16-1
12 [8.0] Keep Cool (54) 80-1

Out of all those runs in the Festival, Strawberry Boy was a clear top pick for mine.

He worked very hard out in front with his 1500m to 600m times and was 3L quicker than the average. He was entitled to drop out of the race but instead he fought on dogged…