Shares in online gaming company Betcorp (BCL.L) jumped nearly 8 percent on Friday as the provider of Internet sports betting and games such as poker became the latest gambling group to float in London.

 

Betcorp is already listed in Australia under the symbol (BCL.AX) but said it was coming to the UK partly because its shares were undervalued compared with some of their London-listed colleagues.

 

In Australia, the stock trades on a multiple of 19.2 times historic earnings, compared with 27.6 for British blue-chip rival PartyGaming (PRTY.L) and 22.3 times for 888 Holdings (888.L) , according to Reuters data.

 

Chairman David Hudd added he expected online gamers in London to be at the forefront of corporate activity in the sector and that Betcorp was “determined to play a leading role in industry consolidation”.

 

By midday, the stock was up 7.9 percent on the AIM market from an opening price of 251-1/2 pence, giving it a market value of over 53 million pounds.

 

Betcorp’s initial listing level was set by converting its Australian share price into sterling. In Sydney, the stock closed at A$5.90 on Friday.

 

Brokerage KBC Peel Hunt is acting as nominated adviser and broker to Betcorp.

 

Australian online Togel Hongkong gamer Betcorp lists on London AIM exchange

 

Shares in online gaming company Betcorp (BCL.L) jumped nearly 8 percent on Friday as the provider of Internet sports betting and games such as poker became the latest gambling group to float in London.

 

Betcorp is already listed in Australia under the symbol (BCL.AX) but said it was coming to the UK partly because its shares were undervalued compared with some of their London-listed colleagues.

 

In Australia, the stock trades on a multiple of 19.2 times historic earnings, compared with 27.6 for British blue-chip rival PartyGaming (PRTY.L) and 22.3 times for 888 Holdings (888.L) , according to Reuters data.

 

Chairman David Hudd added he expected online gamers in London to be at the forefront of corporate activity in the sector and that Betcorp was “determined to play a leading role in industry consolidation”.

 

By midday, the stock was up 7.9 percent on the AIM market from an opening price of 251-1/2 pence, giving it a market value of over 53 million pounds.

 

Betcorp’s initial listing level was set by converting its Australian share price into sterling. In Sydney, the stock closed at A$5.90 on Friday.

 

Brokerage KBC Peel Hunt is acting as nominated adviser and broker to Betcorp.

 

 

 

 

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