Sportingbet.com (UK) plc to AIM - 30th January 2001
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Taking a sporting chance on the LSE!
The Exchange is delighted to welcome Sportingbet.com (UK) plc to AIM, the London market for growing and fledgling companies.
Based in Alderney, in the Channel Islands, Sportingbet.com is the first tax-free on-line betting service in the UK.
Sportingbet.com was launched in October 1998 and now boasts over 50,000 customers in over 103 countries; the company can accept bets in 23 currencies. The directors believe their international appeal is due to their legal credentials and tight regulation - to use their words, ''Bet on your favourite sport, but never gamble on your bookmaker.'' The company uses a bookmaking licence to receive bets in Alderney and a bookmaker's permit to receive bets placed in the rest of the UK.
Proceeds of the placing are expected to generate up to 18million. Sportingbet.com intends to use the proceeds to finance the global development of the company by targeting the following objectives:
- Pursuit of suitable acquisition opportunities
- Enhancement and development of the company's products, and
- Marketing and promotional activities.
Placing statistics
Placing price - 120p
Market cap - 155.7m
Net proceeds - 15.4m
For more information, please contact:
Nomad and Nombro
Dresdner Kleinwort Wasserstein
020 7623 8000
Or visit
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www.sportingbet.com
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