| PokerStars Reveals Plans For $2BN Float
April 18, 2006 The worlds second-largest internet poker company is preparing to float on the London stock market before the end of this year with a value likely to exceed $2 billion (£1.1 billion).
Pokerstars, which has been exploring an outright sale in recent months, is understood to be in talks with a number of investment banks, including HSBC and Dresdner Kleinwort Wasserstein, about hiring them to work on the listing.
While no banks have yet been mandated, insiders said the company was gearing up for the process and was lining up advisers. Its early days, but this is a live situation. Its up and running, said one source, adding that there had been a number of meetings with banks.
Pokerstars has been working with NM Rothschild on a possible trade sale but now seems set on floating. It is not clear what role, if any, Rothschild would play if the internet gaming company pushes ahead with the plan to go public.
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