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Extra £4m windfall for Betfair Pair

first_img Extra £4m windfall for Betfair Pair Show Comments ▼ Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm BETFAIR founders Andrew Black and Ed Wray will pocket an extra £3.6m between them after shares in the firm rocketed following its IPO.Morgan Stanley, acting as stabilising manager, triggered an over-allocation clause after shares in the betting exchange jumped from the float price of £13 to over £15 in its first day of trading.The mechanism obliged Black, a former professional gambler, and Wray, an ex-City trader, to sell a further 10 per cent of their holding in the firm, earning them £1.9m and £1.7m respectively.This is on top of the £14m and £17m already cashed in by the pair, who founded the firm 10 years ago.Other stakeholders, including Charlton Acquisition and Balderton Capital also sold more shares, increasing the percentage of the firm available on the market to 46 per cent.This is comprised of the 15.2 per cent floated last week, an additional 1.6 per cent floated through the over-allocation mechanism and approximately 30 per cent already owned by staff and small shareholders.The total over-allocation sum is worth £22.8m before the deduction of underwriting commissions and expenses. The shares floated last week were worth £233.7m. Thursday 28 October 2010 9:19 pm center_img whatsapp KCS-content whatsapp More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org Tags: NULLlast_img

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