PartyGaming gamble on £4.64bn flotation (Party Poker Goes Public)

Shares for PartyGaming's flotation have been sold to institutions at 116p, making the company’s estimated market value £4.64bn. The price has driven the online gambling company into the FTSE 100 at roughly the same size as supermarket chain J Sainsbury, and made it the biggest listing on the London Stock Exchange in five years.