Balderton-backed Betfair lists on LSE

The company listed 16.2 million shares, representing 15.2% of its capital. Shares were valued at £13, in the upper band of the £11-14 indicative price range. Balderton remains one of the largest institutional shareholders following the IPO.

The venture firm, formerly known as Benchmark Capital, participated in a £21.8m early-stage funding round for Betfair in 2000. The company has grown considerably since then, and generated a £53.3m EBITDA in 2009.

Betfair is an online sports betting provider based in the UK and processes more than five million transactions per day. The company developed Betting Exchange, a marketplace allowing customers to bet at odds sought by themselves or offered by other customers,  thereby eliminating the need for a traditional bookmaker.

The unquote" team is currently researching this transaction. In-depth deal information for subscribers will follow shortly.

If you have any information regarding this transaction, please contact Grégoire Gille on +44 20 7484 9824 or gregoire.gille@incisivemedia.com

 

 

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