Despite rumors that investor interest had waned for online poker company PartyGaming's upcoming float, according to recent reports, PartyGaming shares have actually been oversubscribed. This is good news for PartyGaming and its float, which is expected to go through tomorrow, particularly following suspicions that PartyGaming would not succeed in floating. The iffy legal status of online poker in the U.S., which supplies 90 percent of the company's revenue, was expected to keep investors wary. This expectation was apparently a little hasty.

The majority of investors betting on the online poker company come out of the UK and Europe, though mainly the UK. Besides being hyped as the biggest float on the London Stock Exchange in four years, the soap opera surrounding the float has brought a bit of drama to the normally dry world of IPO's.

Source:  Poker777 Staff

Sunday, 26 June 2005