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Explain the Different types Archive for the ‘Party Poker’ ?

Explain the basic PartyGaming IPO ?

Explain the Archive for the ‘Party Poker’ Detail ?

Jan 16th, 2008 02:32
Martin Luther Martin Luther, http://www.skillgamesportal.com, http://www.onlinecasinoreviewdirectory.com, http://www.chiefbrand.com

In June 2005, some of the top shareholders of PartyGaming plc sold 23%
of the company’s stock in an initial public offering on the London Stock
Exchange. The initial offer price of 116p valued the company at £4.64
billion ($8.46 billion). Within a month the share price rose to make the
value of the company exceed twelve billion dollars. In early September
2005 a cautious statement about future growth prospects saw the shares
fall by a third in a day, but the same week the company was promoted to
the FTSE 100 Index. By the end of November 2005 the stock had regained
its original IPO value. Profits for 2005 were $325 million before tax.
During the IPO, no new shares of PartyGaming were issued, and the
company did not receive any additional capital as a result. Rather,
shares merely changed hands with the four shareholders reducing their
shares to benefit employees. The company remains a volatile stock and a
growth situation as so little of gaming revenue is currently online. It
is estimated that the online gaming market generated revenue of
approximately $8.2 billion in 2004, representing just over three per
cent of the total global gaming market. In 2004, casino and bingo games
represented approximately 29 per cent of the online gaming market, and
poker represented approximately 13 per cent. Dresdner Kleinwort
Wasserstein Limited serves as PartyGaming Plc’s financial advisor.
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