Bookie bets on mid-June listing

12 April 2012

BOOKIE William Hill is planning to float in the next few weeks in a share offer the City reckons could value the business at around £1bn. The company, which has more than 1,600 High Street betting shops, is to sell stock to institutional investors in the UK and abroad and to retail investors in Britain.

It aims to float by mid-June. William Hill is second only to Hilton Group's Ladbrokes chain and is owned by private equity groups Cinven and CVC Capital Partners.

The firm had attempted to float in February 1999 but its then owner, Japanese investment house Nomura, scrapped the flotation at the last moment and sold the firm to the two private equity houses for £825m.

Schroder Salomon Smith Barney is global coordinator and sponsor of the share offer, as well as joint bookrunner with Deutsche Bank. ABN Amro and Cazenove will be co-lead managers of the offering.

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