Betfair, a UK-based online betting website, has completed its London Stock Exchange at £13 per share to value the company at £1.4bn ($2.2bn). Shares in the company closed up 19% at the end of Friday, valuing it at £1.66bn.
Japan-based conglomerate Softbank bought 23% of Betfair for £355m in February 2006 from venture capital firm Balderton (formerly the European division of Benchmark Capital).
Balderton said it made between 10 and 15 times its money on Betfair.
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