4th Jul 2016 05:57
LONDON (Alliance News) - Gaming company GVC Holdings PLC confirmed plans to move to a premium listing on the London Stock Exchange's Main Market, following its takeover of bwin.party Digital Entertainment PLC in February.
GVC, a smaller rival to bwin.party, won a race to acquire bwin.party against 888 Holdings PLC. Given its enlarged size following the merger, a premium listing in London would be "the most appropriate listing category for the company," GVC said, widening its investor base and boosting liquidity in its shares.
GVC moved from AIM to the London Main Market when the bwin.party deal completed in February.
GVC said it expects the move to take place on August 1 and said it anticipates it will be considered for inclusion in the FTSE Index Series. Given its market capitalisation of GBP1.75 billion, GVC would be easily large enough for inclusion in the FTSE 250 when the next quarterly review takes place in September.
By Sam Unsted; [email protected]; @SamUAtAlliance
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