Centrebet Closes Float Oversubscribed
As reported by the Australia Herald Sun: "Online sports betting shop
Centrebet has closed its $70 million float oversubscribed after strong
demand from retail and institution investors. "The privately-owned online
wagering and gaming company plans to sell 35.11 million shares, or about 40
per cent of the company, at a share price of $2. "Proceeds of the initial
public offering will be used to pay down debt and position the company for
future expansion in both domestic and international gaming markets.
".It is expected Centrebet will have a market capitalisation of $174 million
when it lists on the Australian Stock Exchange on July 12.
"Centrebet managing director Con Kafataris said investors had embraced
Centrebet's online business model as well as its expertise in book keeping
and risk management.
".The company expects to pay a 4.65 per cent, fully franked dividend for the
2007 financial year."
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