Flutter raises £1.1bn through share placing

The company, which owns Leeds-based Sky Betting and Gaming, said eight million new ordinary shares were placed at a price of 14,000 pence per placing share.

The move came after Flutter decided to increase its stake in fantasy sports gaming platform FanDuel from Fastball Holdings, a consortium of investors, from 57.8 per cent to 95 per cent at a cost of US$4.2bn, roughly half-and-half in cash and shares.

The share placing represents about 5.2 per cent of the company’s issued share capital immediately prior to the placing, excluding treasury shares, it said.

In a statement issued this morning, Flutter added that it consulted with “a number” of its major shareholders prior to the placing and “has respected the principles of pre-emption through the allocation process insofar as possible”.

Support The Yorkshire Post and become a subscriber today.

Your subscription will help us to continue to bring quality news to the people of Yorkshire. In return, you’ll see fewer ads on site, get free access to our app and receive exclusive members-only offers.

So, please - if you can - pay for our work. Just £5 per month is the starting point. If you think that which we are trying to achieve is worth more, you can pay us what you think we are worth. By doing so, you will be investing in something that is becoming increasingly rare. Independent journalism that cares less about right and left and more about right and wrong. Journalism you can trust.

Thank you

James Mitchinson