Betting firm founder to see stake reduced

WORLDSPREADS founder Conor Foley will see his stake in the spread betting firm reduced to 18% when the company floats on the Alternative Investment Market next Wednesday.

Betting firm founder to see stake reduced
Fri, 27 Jul, 2007 - 01:00

Mr Foley will see his stake diluted from 26.4% to 18.1% at the float, though he will not net any windfall from the reduction.

WorldSpreads is raising €8.5 million in new funding from the flotation, first revealed by the Irish Examiner last week. The company will have a market cap of €27m.

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CourtsMarkets_EuroPerson: Conor FoleyPerson: FoleyOrganisation: WorldspreadsOrganisation: Irish ExaminerOrganisation: Financial Services Authority
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