29/09/2005 Exchange welcomes 888 Holdings to Main Market
The London Stock Exchange is pleased to welcome 888 Holdings plc to the Main Market.
29 September 2005
888 is one of the world’s most popular online gaming entertainment companies, offering a variety of online casino, poker and skill games, and access to a third party betting exchange, through its various websites. 888 had over 20 million registered member accounts at 30 June 2005.
888 was a pioneer in the online gaming industry and launched its first proprietary product, Casino-on-Net, in May 1997. The 888 brand and online Pacific Poker room were launched in 2002. In 2004, 888 launched pilot programmes for skill games; and access for non-US members to a betting exchange through Betmate. The company is licensed and regulated by the Government of Gibraltar, where the Group has its headquarters.
888’s offer of existing ordinary shares was priced to institutional investors at 175p. Based upon this offer price, the market capitalisation of 888 at the commencement of conditional dealings was £590 million.
John Anderson, Chief Executive, commented:
“We are delighted with the positive response to the flotation of 888, especially the strong shareholder base we have attracted. As a public company we look forward to progressing to the next phase of 888’s development and ultimately delivering value to our shareholders."
HSBC Bank plc is acting as sponsor to 888 in relation to the offer and is acting as sole global co-ordinator and bookrunner. Bridgewell Securities Limited, Numis Securities Limited and Panmure Gordon (UK) Limited, are acting as co-lead managers.