Stewart Kenny's Paddy Power Bookmakers have finally confirmed their intention to list on the London and Dublin stock exchanges with an institutional placing.
The placing will be worth £18 million, giving the bookies a market capitalisation of £92 million.
The company had a turnover of £137 million in the six months to last June with profits of £4.3 million. The last full year results showed a turnover of over £200 million with profits of £5.5 million.
Paddy Power is the largest bookmaker in Ireland with a 30% market share and 117 shops. It also operates telephone and online services.
