PartyGaming IPO off and running
LONDON (AP) - Shares of PartyGaming PLC, the world’s biggest online-poker company, rose 11 per cent in their first day of trading Monday on the London Stock Exchange despite concerns of a possible crackdown on Internet gambling in the United States, where most of its players reside.
Shares in Gibraltar-based PartyGaming opened at an offer price of 116 pence (US$2.12) on the London Stock Exchange, valuing the company at 4.64 billion pounds ($8.46 billion). By the end of trading, the share price had risen to 129 pence ($2.35).
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