Sky Betting & Gaming - Commercial
NEWS 30 January 2018
CVC Capital’s IPO of Sky Bet set to raise £3bnBy Caroline Watson
According to reports, CVC Capital, the majority owner of Sky Betting and Gaming are considering the possibility of a stock market flotation of the online betting operator.
The London-based private equity group have hired bankers from Rothschild to assist them with an initial public offering for Sky Betting and Gaming, in the hopes of raising up to £3bn.
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Back in 2014, CVC Capital acquired the £800m majority stake in Sky Bet, and this is not the first time the firm have been involved with the listing of a major bookmarker. In 1999, CVC and Cinven bought William hill from Nomura for £825m, before floating the company a few years later in 2002.
According to Reuters the investment bank Rothschild has been hired to examine a potential stock market listing for Sky Bet and has been tasked with raising interest from banks to arrange the IPO.
Apparently, those close to the proposed deal have said that the float has the potential to raise between approx £2.5-£3bn.
Both CVC and Sky Bet declined to comment on the recent news.
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